Common questions relating to New Mills leasehold conveyancing
I am in need of some leasehold conveyancing in New Mills. Before diving in I would like to find out the number of years remaining on the lease.
If the lease is registered - and most are in New Mills - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I would like to rent out my leasehold flat in New Mills. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Notwithstanding that your previous New Mills conveyancing lawyer is not around you can check your lease to see if it allows you to sublet the premises. The accepted inference is that if the lease is non-specific, subletting is allowed. There may be a precondition that you are obliged to seek permission via your landlord or some other party before subletting. This means you not allowed to sublet without prior consent. Such consent must not not be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord for their consent.
Having checked my lease I have discovered that there are only 62 years unexpired on my flat in New Mills. I now wish to extend my lease but my landlord is absent. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to prove that you have done all that could be expected to track down the lessor. For most situations a specialist may be useful to conduct investigations and to produce an expert document which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the vesting order request to the County Court covering New Mills.
Estate agents have just been given the go-ahead to market my ground floor flat in New Mills.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
If all goes to plan we aim to complete our sale of a £150000 maisonette in New Mills in just under a week. The management company has quoted £336 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in New Mills?
New Mills conveyancing on leasehold flats typically results in administration charges levied by landlords agents :
- Answering pre-contract enquiries
- Where consent is required before sale in New Mills
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the registered owner of a 2 bed flat in New Mills, conveyancing formalities finalised 8 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in New Mills with an extended lease are worth £179,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ends on 21st October 2080
With just 55 years remaining on your lease the likely cost is going to be between £31,400 and £36,200 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.
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