Questions and Answers: Shinfield leasehold conveyancing
I wish to rent out my leasehold flat in Shinfield. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Even though your last Shinfield conveyancing solicitor is not available you can review your lease to see if you are permitted to let out the apartment. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you must obtain consent via your landlord or some other party prior to subletting. This means that you cannot sublet without first obtaining consent. Such consent should not be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord for their consent.
Expecting to exchange soon on a basement flat in Shinfield. Conveyancing lawyers have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Shinfield should include some of the following:
- The physical extent of the demise. This will be the property itself but might include a loft or cellar if appropriate.
I've recently bought a leasehold house in Shinfield. 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 owner 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 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).
Can you provide any top tips for leasehold conveyancing in Shinfield with the aim of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Shinfield can be avoided if you appoint lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the buyers solicitors.
- If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Shinfield state that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord approving such alterations. Where you dont have the paperwork in place you should not communicate with the landlord without contacting your lawyer in the first instance.
In relation to leasehold conveyancing in Shinfield what are the most common lease problems?
Leasehold conveyancing in Shinfield is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Virgin Money, and TSB all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the purchaser to pull out.
I acquired a 1 bedroom flat in Shinfield, conveyancing formalities finalised 5 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Shinfield with over 90 years remaining are worth £247,000. The average or mid-range amount of ground rent is £60 yearly. The lease ends on 21st October 2083
With 58 years unexpired the likely cost is going to range between £24,700 and £28,600 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
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