Common questions relating to Reading leasehold conveyancing
I am intending to sublet my leasehold apartment in Reading. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Notwithstanding that your previous Reading conveyancing lawyer is no longer around you can check your lease to check if you are permitted to let out the apartment. The accepted inference is that if the deeds are silent, subletting is allowed. There may be a precondition that you need to seek consent via your landlord or other appropriate person in advance of subletting. This means that you cannot sublet without first obtaining permission. Such consent must not not be unreasonably turned down. If your lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.
My wife and I purchased a leasehold flat in Reading. Conveyancing and Barclays mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Reading who acted for me is not around.What should I do?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Reading conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Last month I purchased a leasehold flat in Reading. Am I liable to pay service charges for periods before 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. Strange as it may seem, 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).
Do you have any top tips for leasehold conveyancing in Reading from the perspective of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Reading can be reduced if you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the purchasers’ solicitors.
- The majority freeholders or Management Companies in Reading levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Reading.
All being well we will complete the disposal of our £500000 apartment in Reading in just under a week. The freeholder has quoted £324 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Reading?
Reading conveyancing on leasehold flats more often than not involves the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be content to do so. They are at liberty charge a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases 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 fees, otherwise the charge is not strictly payable. In reality you have little option but to pay whatever is requested of you should you wish to sell the property.
Reading Conveyancing for Leasehold Flats - Sample of Queries before Purchasing
-
The answer will be important as a) areas can result in problems in the block as the common areas may start to deteriorate if services are not paid for b) if the tenants have an issue with the running of the building you will want to have complete disclosure
The prefered form of lease structure is where the freehold interest is owned by the leaseholders. In this situation the leaseholders enjoy being in charge if their destiny and even though a managing agent is frequently employed if the building is bigger than a house conversion, the managing agent is directed by the tenants.
Most Reading leasehold flats will be liable to pay a service charge for the upkeep of the block invoiced by the landlord. Should you buy the flat you will have to pay this contribution, usually in instalments accross the year. This could be anything from several hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all probability there will be a rentcharge to be met yearly, normally this is not a exorbitant amount, say around £50-£100 but you need to check as on occasion it could be many hundreds of pounds.
Other Topics