Padstow leasehold conveyancing: Q and A’s
Jane (my partner) and I may need to sub-let our Padstow garden flat temporarily due to a new job. We used a Padstow conveyancing firm in 2001 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
A small minority of properties in Padstow do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests 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 own a leasehold flat in Padstow. Conveyancing and Leeds Building Society mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Padstow who acted for me is not around.Do I pay?
The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Padstow conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I work for a busy estate agency in Padstow where we have experienced a few flat sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Padstow conveyancing solicitors. Please can you confirm whether the owner of a flat can start the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Do you have any advice for leasehold conveyancing in Padstow with the intention of expediting the sale process?
- Much of the delay in leasehold conveyancing in Padstow can be reduced where you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the buyers lawyers.
- Many freeholders or managing agents in Padstow levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Padstow.
- If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? Padstow leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such works. If you fail to have the paperwork to hand do not contact the landlord without contacting your solicitor in advance.
- Some Padstow leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
- You believe that you know the number of years left on your lease but it would be advisable verify this via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is below 80 years. In the circumstances it is important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.
If all goes to plan we aim to complete our sale of a £ 225000 garden flat in Padstow next week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Padstow?
For most leasehold sales in Padstow conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-exchange questions
- Where consent is required before sale in Padstow
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Padstow - A selection of Questions you should ask before buying
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The prefered form of lease structure is a share of the freehold. In this situation the tenants have being in charge if their destiny and although a managing agent is often retained if it is larger than a house conversion, the managing agent acts for the leaseholders themselves.