Top Five Questions relating to Oakdale leasehold conveyancing
I wish to sublet my leasehold flat in Oakdale. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A small minority of properties in Oakdale do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I have recently realised that I have 72 years unexpired on my flat in Oakdale. I now want to get lease extension but my freeholder is absent. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to locate the freeholder. For most situations a specialist would be helpful to try and locate and prepare an expert document which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Oakdale.
Planning to sign contracts shortly on a garden flat in Oakdale. Conveyancing lawyers have said that they will have a report out to me tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Oakdale should include some of the following:
- You should be told what counts as a Nuisance in the lease
I own a leasehold flat in Oakdale. Conveyancing and Godiva Mortgages Ltd mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Oakdale who acted for me is not around.Any advice?
First contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Oakdale conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
All being well we will complete our sale of a £150000 garden flat in Oakdale in just under a week. The managing agents has quoted £300 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Oakdale?
Oakdale conveyancing on leasehold maisonettes more often than not necessitates the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to address such questions the majority will be content to assist. They are entitled levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it exceeds £800. The management information fee levied by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, otherwise the charge is technically not due. Reality however dictates that one has little choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I purchased a 2 bed flat in Oakdale, conveyancing having been completed 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Oakdale with an extended lease are worth £175,000. The ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2088
You have 67 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.