I want to sublet my leasehold apartment in Ripley. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Notwithstanding that your last Ripley conveyancing solicitor is no longer around you can review your lease to check if it allows you to sublet the premises. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to obtain consent via your landlord or other appropriate person in advance of subletting. This means that you cannot sublet in the absence of first obtaining permission. The consent should not be unreasonably turned down. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

Estate agents have just been given the go-ahead to market my 2 bed flat in Ripley.Conveyancing has not commenced but I have just received a half-yearly service charge invoice – Do I pay up?

It best that you 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 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 own a leasehold flat in Ripley. Conveyancing and Chelsea Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Ripley who acted for me is not around.Do I pay?

First make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Ripley conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a two apartments in Ripley both have in the region of 50 years remaining on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Ripley is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the value of the property. The majority of purchasers and lenders, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Ripley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

If all goes to plan we aim to complete the disposal of our £375000 garden flat in Ripley on Thursday in a week. The landlords agents has quoted £408 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Ripley?

Ripley conveyancing on leasehold maisonettes normally involves the purchaser’s conveyancer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions the majority will be content to do so. They are entitled invoice a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The administration charge invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, without which the charge is technically not due. Reality however dictates that one has no option but to pay whatever is demanded if you want to sell the property.

Ripley Leasehold Conveyancing - Sample of Questions you should consider before buying

For most Ripley leaseholds the cost for major works tend not to be wrapped into the service charges, although there some managing agents in Ripley ask leasehold owners to pay into a reserve fund and this is used to offset against larger repairs or maintenance. What prohibitions are contained in the Ripley Lease? Are any of leasehold owners in dispute over their service charge payments?

Other Topics

Lease Extensions in Ripley