Ouston leasehold conveyancing Example Support Desk Enquiries
I want to let out my leasehold flat in Ouston. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
A lease dictates the relationship between the landlord and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Ouston do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
Last month I purchased a leasehold property in Ouston. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Can you offer any advice when it comes to finding a Ouston conveyancing practice to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Ouston conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Ouston conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- How many lease extensions have they conducted in Ouston in the last twenty four months?
If all goes to plan we aim to complete the sale of our £125000 apartment in Ouston next Thursday . The management company has quoted £384 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Ouston?
For most leasehold sales in Ouston conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-contract enquiries
- Where consent is required before sale in Ouston
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
When it comes to leasehold conveyancing in Ouston what are the most frequent lease problems?
Leasehold conveyancing in Ouston is not unique. All leases are individual and drafting errors can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the building
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Chelsea Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.
I am the registered owner of a leasehold flat in Ouston, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Ouston with an extended lease are worth £168,000. The average or mid-range amount of ground rent is £50 yearly. The lease ceases on 21st October 2094
With just 72 years remaining on your lease we estimate the price of your lease extension to span between £10,500 and £12,000 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.