Frequently asked questions relating to Snaith leasehold conveyancing
My fiance and I may need to sub-let our Snaith ground floor flat for a while due to a career opportunity. We used a Snaith conveyancing firm in 2002 but they have since shut 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?
Some leases for properties in Snaith do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience dictates 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 consent.
Estate agents have just been given the go-ahead to market my 2 bed apartment in Snaith.Conveyancing is yet to be initiated but I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?
It best that you discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
What are your top tips when it comes to choosing a Snaith conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Snaith conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Snaith conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:
- If they are not ALEP accredited then why not?
Completion in due on our sale of a £175000 maisonette in Snaith in just under a week. The freeholder has quoted £384 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Snaith?
For most leasehold sales in Snaith conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-exchange questions
- Where consent is required before sale in Snaith
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
What are the frequently found problems that you come across in leases for Snaith properties?
Leasehold conveyancing in Snaith is not unique. Most leases are individual and drafting errors can result in certain provisions are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the property
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Skipton Building Society, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.
I acquired a leasehold flat in Snaith, conveyancing formalities finalised 2009. 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 Snaith with an extended lease are worth £240,000. The average or mid-range amount of ground rent is £55 levied per year. The lease finishes on 21st October 2083
With 58 years left to run the likely cost is going to range between £21,900 and £25,200 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you 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.
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