Recently asked questions relating to Saltash leasehold conveyancing
I am on look out for some leasehold conveyancing in Saltash. Before I set the wheels in motion I want to be sure as to the remaining lease term.
Assuming the lease is registered - and almost all are in Saltash - 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 wish to sublet my leasehold apartment in Saltash. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Some leases for properties in Saltash 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 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 permission.
Back In 2004, I bought a leasehold flat in Saltash. Conveyancing and Birmingham Midshires mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Saltash who acted for me is not around.What should I do?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Saltash conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I work for a long established estate agency in Saltash where we have witnessed a number of flat sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Saltash conveyancing firms. Could you shed some light as to whether the owner of a flat can initiate the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Completion in due on the disposal of our £ 200000 flat in Saltash on Friday in a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Saltash?
For most leasehold sales in Saltash conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing conveyancing due diligence enquiries
- Where consent is required before sale in Saltash
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I bought a 1st floor flat in Saltash, conveyancing was carried out 1995. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Saltash with a long lease are worth £190,000. The average or mid-range amount of ground rent is £45 yearly. The lease terminates on 21st October 2101
With only 75 years remaining on your lease we estimate the premium for your lease extension to range between £10,500 and £12,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns 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 without first seeking the advice of a professional.