Examples of recent questions relating to leasehold conveyancing in Rushden
Harry (my fiance) and I may need to rent out our Rushden basement flat temporarily due to taking a sabbatical. We used a Rushden conveyancing firm in 2002 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?
Notwithstanding that your previous Rushden conveyancing solicitor is not available you can review your lease to check if you are permitted to let out the property. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you need to seek consent from your landlord or other appropriate person before subletting. This means you not allowed to sublet without first obtaining permission. The consent must not not be unreasonably refused ore delayed. If your lease prohibits you from subletting the property you will need to ask your landlord for their consent.
I own a leasehold flat in Rushden. Conveyancing and Norwich and Peterborough Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Rushden who previously acted has long since retired.What should I do?
First make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Rushden conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that in any event, 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 attracted to a couple of apartments in Rushden which have approximately fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the value of the lease deteriorate and results in it becoming more costly to extend the lease. For this reason it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this area
What are your top tips when it comes to finding a Rushden conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Rushden conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Rushden conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- How familiar is the firm with lease extension legislation?
We expect to complete the sale of our £400000 flat in Rushden next Wednesday . The management company has quoted £300 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Rushden?
Rushden conveyancing on leasehold flats often involves the buyer’s lawyer submitting questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be willing to assist. They are at liberty charge a reasonable administration fee for answering 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 situations it is above £800. The administration charge demanded by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality you have no option but to pay whatever is demanded should you wish to sell the property.
I purchased a basement flat in Rushden, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Rushden with a long lease are worth £167,000. The ground rent is £50 yearly. The lease comes to an end on 21st October 2096
With only 70 years remaining on your lease we estimate the premium for your lease extension to range between £10,500 and £12,000 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you 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.
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