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Royston leasehold conveyancing Example Support Desk Enquiries

I am on look out for some leasehold conveyancing in Royston. Before diving in I require certainty as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and most are in Royston - 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.

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

Some leases for properties in Royston do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review 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 hoping to sign contracts shortly on a studio apartment in Royston. Conveyancing lawyers assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Royston should include some of the following:

  • The total extent of the demise. This will be the flat itself but might include a roof space or basement if appropriate.
  • Whether the lease restricts you from subletting the property, or working from home
  • Whether your lease has a provision for a reserve fund?
  • Repair and maintenance of the flat
  • 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
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Responsibility for repairing the window frames For a comprehensive list of information to be included in your report on your leasehold property in Royston please ask your conveyancer in ahead of your conveyancing in Royston

    • Can you provide any advice for leasehold conveyancing in Royston from the point of view of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Royston can be reduced if you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation needed by the buyers representatives.
    • If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Royston state that internal structural changes or installing wooden flooring necessitate a licence from the Landlord acquiescing to such changes. If you dont have the paperwork in place you should not communicate with the landlord without contacting your solicitor in the first instance.
  • Some Royston leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Organising a re-issued share certificate is often a time consuming process and frustrates many a Royston home move. Where a reissued share is necessary, do contact the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but you should verify this by asking your lawyers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. In the circumstances it is essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • When it comes to leasehold conveyancing in Royston what are the most common lease defects?

    Leasehold conveyancing in Royston is not unique. Most leases are individual and drafting errors can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the premises
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, The Royal Bank of Scotland, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

    I own a 1 bedroom flat in Royston, conveyancing formalities finalised in 2010. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Royston with over 90 years remaining are worth £225,000. The average or mid-range amount of ground rent is £65 yearly. The lease terminates on 21st October 2083

    With only 57 years remaining on your lease the likely cost is going to span between £28,500 and £33,000 plus professional fees.

    The suggested premium range above 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 tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Royston