Examples of recent questions relating to leasehold conveyancing in Robertsbridge
I am in need of some leasehold conveyancing in Robertsbridge. Before diving in I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in Robertsbridge - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Frank (my husband) and I may need to sub-let our Robertsbridge ground floor flat temporarily due to a career opportunity. We instructed a Robertsbridge conveyancing firm in 2003 but they have since shut and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?
Some leases for properties in Robertsbridge do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I am tempted by the attractive purchase price for a couple of apartments in Robertsbridge both have in the region of 50 years unexpired on the lease term. should I be concerned?
There is no doubt about it. A leasehold apartment in Robertsbridge is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. The majority of purchasers and banks, leases with less than 75 years become less and less marketable. On a more positive 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 Robertsbridge conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 the agreed 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.
I've recently bought a leasehold flat in Robertsbridge. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner 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. A critical element of leasehold conveyancing for your conveyancer to ensure 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 advice for leasehold conveyancing in Robertsbridge with the intention of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Robertsbridge can be reduced where you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
- Many freeholders or Management Companies in Robertsbridge levy fees for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Robertsbridge.
Leasehold Conveyancing in Robertsbridge - Sample of Queries before Purchasing
Is the freehold owned jointly by the leaseholders?
The best form of lease arrangement is where the freehold title is in the ownership of the leaseholders. In this situation the tenants enjoy control and although a managing agent is usually employed where the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.
Are there any major works in the near future that will likely add a premium to the service charges?