Recently asked questions relating to Plympton leasehold conveyancing
My husband and I may need to sub-let our Plympton 1st floor flat for a while due to taking a sabbatical. We instructed a Plympton conveyancing firm in 2002 but they have closed and we did not have the foresight to get any advice as to whether the lease allows us to sublet. How do we find out?
Even though your previous Plympton conveyancing solicitor is not around you can check your lease to check if you are permitted to let out the premises. The accepted inference is that if the lease is silent, subletting is permitted. There may be a precondition that you need to seek permission via your landlord or some other party prior to subletting. This means you not allowed to sublet in the absence of first obtaining permission. Such consent must not not be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you should ask your landlord for their consent.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it all the more appealing. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Plympton. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Plympton ?
Most houses in Plympton are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Plympton so you should seriously consider looking for a Plympton conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct alterations. You may also be required to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your lawyer will advise you fully on all the issues.
Last month I purchased a leasehold property in Plympton. Am I liable to pay service charges relating to a period prior to completion of my purchase?
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. A critical element 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).
I work for a reputable estate agent office in Plympton where we have witnessed a few flat sales put at risk due to short leases. I have received conflicting advice from local Plympton conveyancing solicitors. Could you shed some light as to whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
An alternative approach is 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 purchaser.
Completion in due on the sale of our £125000 maisonette in Plympton next Monday . The freeholder has quoted £312 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Plympton?
For most leasehold sales in Plympton conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-exchange enquiries
- Where consent is required before sale in Plympton
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I purchased a basement flat in Plympton, conveyancing having been completed in 2008. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Plympton with a long lease are worth £170,000. The average or mid-range amount of ground rent is £60 per annum. The lease finishes on 21st October 2088
With just 64 years remaining on your lease we estimate the price of your lease extension to range between £16,200 and £18,600 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.
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