Top Five Questions relating to Sacriston leasehold conveyancing
I wish to let out my leasehold flat in Sacriston. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Even though your previous Sacriston conveyancing lawyer is not around you can review your lease to check if you are permitted to let out the apartment. The accepted inference is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you must seek consent via your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet in the absence of prior consent. The consent must not not be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord for their consent.
There are only Fifty years remaining on my flat in Sacriston. I am keen to get lease extension but my freeholder is can not be found. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to locate the freeholder. For most situations an enquiry agent may be useful to conduct investigations and prepare a report which can be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the application to the County Court covering Sacriston.
I today plan to offer on a house that seems to be perfect, at a great price which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Sacriston. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Sacriston ?
The majority of houses in Sacriston are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Sacriston in which case you should be shopping around for a Sacriston conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your conveyancer should advise you fully on all the issues.
I've recently bought a leasehold property in Sacriston. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).
If all goes to plan we aim to complete the disposal of our £325000 maisonette in Sacriston next week. The management company has quoted £348 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Sacriston?
Sacriston conveyancing on leasehold flats usually requires the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries the majority will be content to assist. They are entitled levy a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee levied by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, without which the charge is not strictly payable. In reality you have no choice but to pay whatever is demanded if you want to complete the sale of your home.
I acquired a basement flat in Sacriston, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Sacriston with a long lease are worth £222,000. The ground rent is £45 invoiced annually. The lease ends on 21st October 2078
With just 57 years remaining on your lease the likely cost is going to be 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 are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.