Top Five Questions relating to Runcorn leasehold conveyancing
Harry (my fiance) and I may need to rent out our Runcorn basement flat for a while due to a career opportunity. We instructed a Runcorn conveyancing firm in 2003 but they have closed and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?
A small minority of properties in Runcorn do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience dictates 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 only have 68 years left on my lease in Runcorn. I now wish to extend my lease but my freeholder is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to find the lessor. On the whole a specialist may be helpful to try and locate and to produce a report to be used as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the vesting order request to the County Court covering Runcorn.
I've found a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Runcorn. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Runcorn ?
The majority of houses in Runcorn are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Runcorn in which case you should be looking for a Runcorn conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your lawyer should appraise you on the various issues.
I own a leasehold house in Runcorn. Conveyancing and Halifax mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Runcorn who acted for me is not around.Any advice?
First make enquiries of HMLR to be sure that this person is indeed the new freeholder. It is not necessary to instruct a Runcorn conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you provide any top tips for leasehold conveyancing in Runcorn from the perspective of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Runcorn can be avoided if you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the buyers conveyancers.
- If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Runcorn state that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord consenting to such changes. Should you dont have the paperwork in place do not contact the landlord without contacting your lawyer in the first instance.
- Some Runcorn leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual 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 purchasers or their lawyers.
- If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to unsettled.
- If you have the benefit of shareholding in the freehold, you should make sure that you have the original share document. Obtaining a duplicate share certificate can be a time consuming formality and delays many a Runcorn conveyancing transaction. If a reissued share is necessary, you should approach the company officers or managing agents (if relevant) for this sooner rather than later.
I acquired a 1st floor flat in Runcorn, conveyancing having been completed 3 years ago. How much will my lease extension cost? Corresponding properties in Runcorn with over 90 years remaining are worth £244,000. The average or mid-range amount of ground rent is £55 yearly. The lease terminates on 21st October 2093
With 67 years left to run the likely cost is going to range between £13,300 and £15,400 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.