Questions and Answers: Ramsbottom leasehold conveyancing
I wish to sublet my leasehold flat in Ramsbottom. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Notwithstanding that your last Ramsbottom conveyancing solicitor is not available you can review your lease to see if you are permitted to let out the apartment. The rule is that if the lease is silent, subletting is allowed. There may be a precondition that you are obliged to seek permission via your landlord or other appropriate person before subletting. The net result is that you cannot sublet in the absence of first obtaining consent. The consent should not be unreasonably refused ore delayed. If your lease prohibits you from subletting the property you will need to ask your landlord for their consent.
I have just started marketing my garden flat in Ramsbottom.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge demand – Do I pay up?
The sensible thing to do is discharge 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Ramsbottom. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
The majority of houses in Ramsbottom are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Ramsbottom so you should seriously consider looking for a Ramsbottom conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your solicitor should appraise you on the various issues.
I work for a busy estate agent office in Ramsbottom where we see a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Ramsbottom conveyancing solicitors. Could you clarify whether the owner of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as 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. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder 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.
All being well we will complete the sale of our £500000 garden flat in Ramsbottom on Friday in a week. The freeholder has quoted £324 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Ramsbottom?
Ramsbottom conveyancing on leasehold apartments often requires the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be willing to do so. They are at liberty levy a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the invoice is not strictly payable. In reality one has no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
I bought a 2 bed flat in Ramsbottom, conveyancing having been completed 7 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Ramsbottom with an extended lease are worth £192,000. The ground rent is £60 invoiced every year. The lease ceases on 21st October 2074
You have 52 years remaining on your lease the likely cost is going to be between £32,300 and £37,400 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.