Recently asked questions relating to Redland leasehold conveyancing
Harry (my fiance) and I may need to sub-let our Redland ground floor flat for a while due to a career opportunity. We used a Redland conveyancing firm in 2002 but they have since shut and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your previous Redland conveyancing lawyer is not available you can review your lease to check if you are permitted to let out the apartment. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you need to obtain consent from your landlord or other appropriate person before subletting. The net result is you not allowed to sublet in the absence of prior permission. Such consent should not be unreasonably turned down. If the lease prohibits you from subletting the property you should ask your landlord for their consent.
I am hoping to complete next month on a studio apartment in Redland. Conveyancing lawyers assured me that they report fully next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Redland should include some of the following:
- You should be sent a copy of the lease
I've found a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Redland. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
Most houses in Redland are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Redland so you should seriously consider shopping around for a Redland conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to conduct alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should appraise you on the various issues.
If all goes to plan we aim to complete the sale of our £275000 maisonette in Redland in just under a week. The freeholder has quoted £372 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Redland?
Redland conveyancing on leasehold flats usually involves the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to assist. They may invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some situations it is in excess of £800. The administration charge levied by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality you have no choice but to pay whatever is demanded should you wish to sell the property.
What makes a Redland lease defective?
There is nothing unique about leasehold conveyancing in Redland. Most leases are individual and legal mistakes in the legal wording can result in certain sections are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the property
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Coventry Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the purchaser to withdraw.
I purchased a split level flat in Redland, conveyancing formalities finalised 8 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Redland with an extended lease are worth £199,000. The average or mid-range amount of ground rent is £50 yearly. The lease comes to an end on 21st October 2085
You have 63 years remaining on your lease we estimate the premium for your lease extension to be between £16,200 and £18,600 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.