Quality lawyers for Leasehold Conveyancing in Ramsey

Any conveyancing practice can theoretically handle your leasehold conveyancing in Ramsey, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Ramsey leasehold conveyancing: Q and A’s

I wish to rent out my leasehold flat in Ramsey. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Notwithstanding that your last Ramsey conveyancing solicitor is no longer around you can check your lease to see if it allows you to sublet the property. The rule is that if the lease is silent, subletting is allowed. There may be a precondition that you must seek permission from your landlord or some other party prior to subletting. The net result is you not allowed to sublet in the absence of first obtaining consent. The consent should not be unreasonably turned down. If the lease does not allow you to sublet you should ask your landlord for their consent.

Due to sign contracts shortly on a basement flat in Ramsey. Conveyancing lawyers assured me that they will have a report out to me on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Ramsey should include some of the following:

  • You should receive a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Whether your lease has a provision for a sinking fund?
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in Ramsey please enquire of your solicitor in ahead of your conveyancing in Ramsey

  • I have just appointed agents to market my 2 bed flat in Ramsey.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – what should I do?

    It best that you clear the service charge 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. Having a clear account will assist your cause and will leave you no worse off financially.

    I am tempted by the attractive purchase price for a two maisonettes in Ramsey which have approximately fifty years left on the leases. Will this present a problem?

    There are plenty of short leases in Ramsey. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area

    Last month I purchased a leasehold property in Ramsey. Am I liable to pay service charges relating to a period prior to my ownership?

    In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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 own a split level flat in Ramsey, conveyancing having been completed 2010. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Ramsey with a long lease are worth £266,000. The average or mid-range amount of ground rent is £50 yearly. The lease ceases on 21st October 2100

    With just 77 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 plus professional fees.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Ramsey