Top Five Questions relating to Prestbury leasehold conveyancing
Harry (my fiance) and I may need to sub-let our Prestbury 1st floor flat temporarily due to taking a sabbatical. We used a Prestbury conveyancing firm 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?
Notwithstanding that your previous Prestbury conveyancing lawyer is no longer around you can check your lease to see if it allows you to sublet the premises. The accepted inference is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to obtain consent via your landlord or some other party before subletting. This means that you cannot sublet without first obtaining permission. Such consent must not not be unreasonably turned down. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
Estate agents have just been given the go-ahead to market my ground floor flat in Prestbury.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge demand – what should I do?
It best that you pay the invoice 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 managing agents 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. This will smooth the conveyancing process.
Can you offer any advice when it comes to finding a Prestbury conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Prestbury conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Prestbury conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- If they are not ALEP accredited then why not?
Do you have any advice for leasehold conveyancing in Prestbury from the perspective of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Prestbury can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the buyers solicitors.
- Many landlords or managing agents in Prestbury levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Prestbury.
Completion in due on the disposal of our £475000 flat in Prestbury on Tuesday in a week. The management company has quoted £384 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Prestbury?
Prestbury conveyancing on leasehold apartments often necessitates the purchaser’s conveyancer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries most will be content to do so. They may charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, without which the charge is technically not due. In reality one has little choice but to pay whatever is requested of you should you wish to sell the property.
I own a basement flat in Prestbury, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Equivalent properties in Prestbury with an extended lease are worth £260,000. The ground rent is £50 levied per year. The lease finishes on 21st October 2093
With just 70 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.