Guaranteed fixed fees for Leasehold Conveyancing in Oakdale

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Frequently asked questions relating to Oakdale leasehold conveyancing

My wife and I may need to rent out our Oakdale basement flat for a while due to taking a sabbatical. We instructed a Oakdale conveyancing practice in 2001 but they have closed and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?

Your lease dictates the relationship between the landlord and you the leaseholder; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Oakdale do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

I am hoping to complete next month on a ground floor flat in Oakdale. Conveyancing solicitors assured me that they report fully on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Oakdale should include some of the following:

  • The physical extent of the property. This will be the apartment itself but may include a roof space or basement if applicable.
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Repair and maintenance of the flat
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • What you can do if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be included in your report on your leasehold property in Oakdale please enquire of your solicitor in advance of your conveyancing in Oakdale

  • I have just started marketing my basement flat in Oakdale.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge demand – what should I do?

    It best that you discharge 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. Having a clear account will assist your cause and will leave you no worse off financially.

    Can you provide any top tips for leasehold conveyancing in Oakdale with the purpose of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Oakdale can be reduced if you instruct lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the buyers representatives.
    • The majority landlords or Management Companies in Oakdale levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Oakdale.
  • If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Oakdale state that internal structural changes or addition of wooden flooring calls for a licence from the Landlord consenting to such changes. Where you fail to have the consents in place you should not communicate with the landlord without contacting your solicitor in advance.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be concerned about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than unresolved.
  • If you hold a share in a the Management Company, you should ensure that you hold the original share certificate. Obtaining a replacement share certificate is often a lengthy formality and frustrates many a Oakdale conveyancing transaction. Where a duplicate share is required, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.

  • All being well we will complete the sale of our £450000 maisonette in Oakdale on Wednesday in a week. The managing agents has quoted £396 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Oakdale?

    Oakdale conveyancing on leasehold maisonettes usually necessitates administration charges levied by freeholders :

    • Answering pre-exchange questions
    • Where consent is required before sale in Oakdale
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Oakdale leasehold premises is £350. For Oakdale conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply the information.

    Leasehold Conveyancing in Oakdale - Sample of Questions you should ask before buying

      For most Oakdale leaseholds the cost for major works are not included within service charges, although some managing agents in Oakdale ask tenants to contribute towards a sinking fund and this is used to offset against major works. How many years remain on the lease? Most Oakdale leasehold apartments will incur a service bill for the upkeep of the building set by the landlord. If you purchase the property you will have to meet this liability, normally quarterly throughout the year. This can differ from two or three hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a ground rent to be met annual, ordinarily this is not a exorbitant amount, say about £25-£75 but you should to check it because on occasion it can be many hundreds of pounds.

    Other Topics

    Lease Extensions in Oakdale