Recently asked questions relating to Sandiacre leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Sandiacre. Before diving in I require certainty as to the number of years remaining on the lease.
Assuming the lease is registered - and 99.9% are in Sandiacre - 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.
My partner and I may need to rent out our Sandiacre basement flat temporarily due to taking a sabbatical. We used a Sandiacre conveyancing firm in 2001 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your previous Sandiacre conveyancing lawyer is not around you can check your lease to see if you are permitted to let out the premises. The rule is that if the lease is non-specific, subletting is permitted. There may be a precondition that you must seek consent via your landlord or some other party before subletting. This means that you cannot sublet without first obtaining permission. Such consent must not not be unreasonably withheld. If your lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.
Having checked my lease I have discovered that there are only 72 years remaining on my lease in Sandiacre. I now want to get lease extension but my freeholder is missing. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to find the landlord. In some cases an enquiry agent should be useful to carry out a search and to produce a report which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Sandiacre.
Last month I purchased a leasehold flat in Sandiacre. Do I have any liability for service charges relating to a period prior to 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. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
Can you provide any advice for leasehold conveyancing in Sandiacre from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Sandiacre can be reduced if you appoint lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ representatives.
- In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Sandiacre leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord acquiescing to such alterations. If you fail to have the consents to hand do not communicate with the landlord without contacting your lawyer in the first instance.
I own a garden flat in Sandiacre, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Similar properties in Sandiacre with a long lease are worth £225,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2083
With just 62 years left to run we estimate the price of your lease extension to range between £22,800 and £26,400 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should 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.