Top Five Questions relating to Poundbury leasehold conveyancing
My husband and I may need to let out our Poundbury basement flat for a while due to a career opportunity. We instructed a Poundbury conveyancing practice in 2003 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?
Some leases for properties in Poundbury 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 review 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.
There are only 72 years unexpired on my lease in Poundbury. I now wish to get lease extension but my freeholder is missing. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the landlord. For most situations a specialist would be helpful to carry out a search and prepare an expert document to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s absence and the application to the County Court covering Poundbury.
Looking forward to complete next month on a ground floor flat in Poundbury. Conveyancing lawyers inform me that they will have a report out to me tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Poundbury should include some of the following:
- You should receive a copy of the lease
What advice can you give us when it comes to choosing a Poundbury conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Poundbury conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Poundbury conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How experienced is the practice with lease extension legislation?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £200000 apartment in Poundbury next Wednesday . The management company has quoted £384 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Poundbury?
Poundbury conveyancing on leasehold maisonettes normally requires the purchaser’s lawyer submitting questions for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be willing to do so. They may charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The management information fee demanded by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. Reality however dictates that you have little option but to pay whatever is requested of you if you want to complete the sale of your home.
Poundbury Conveyancing for Leasehold Flats - A selection of Queries before buying
Where a Poundbury lease has no more than 80 years it will affect the marketability of the property. It is worth checking with your mortgage company that they are content with the length of the lease. A short lease means that you will almost definitely need a lease extension at some point and you need to have some idea of how much this would cost. For most Poundburylease extensions you will need to own the residence for a couple of years in order to be eligible to carry out a lease extension.
Who are the managing agents?
How much is the yearly maintenance fee and ground rent?