Recently asked questions relating to Runcorn leasehold conveyancing
I am on look out for some leasehold conveyancing in Runcorn. Before I set the wheels in motion I require certainty as to the remaining lease term.
If the lease is registered - and most are in Runcorn - then the leasehold title will always include the short particulars 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 wish to let out my leasehold apartment in Runcorn. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Notwithstanding that your last Runcorn conveyancing lawyer is not available you can check your lease to see if you are permitted to let out the property. The rule is that if the lease is non-specific, subletting is allowed. There may be a precondition that you must seek consent via your landlord or some other party in advance of subletting. The net result is that you cannot sublet without prior consent. 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.
Can you offer any advice when it comes to finding a Runcorn conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Runcorn conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Runcorn conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- How familiar is the firm with lease extension legislation?
Do you have any advice for leasehold conveyancing in Runcorn from the point of view of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Runcorn can be reduced where you instruct lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the buyers representatives.
- Many landlords or managing agents in Runcorn levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Runcorn.
Completion in due on our sale of a £425000 flat in Runcorn in 8 days. The managing agents has quoted £336 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Runcorn?
Runcorn conveyancing on leasehold apartments more often than not requires the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to assist. They are at liberty charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some transactions it is above £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the charge is technically not due. Reality however dictates that you have no option but to pay whatever is demanded should you wish to sell the property.
I invested in buying a ground floor flat in Runcorn, conveyancing was carried out 4 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Runcorn with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £65 yearly. The lease terminates on 21st October 2096
With just 74 years remaining on your lease we estimate the premium for your lease extension to be between £12,400 and £14,200 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.