Experts for Leasehold Conveyancing in Somersham

While any conveyancing practice can theoretically handle your leasehold conveyancing in Somersham, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Questions and Answers: Somersham leasehold conveyancing

Harry (my fiance) and I may need to sub-let our Somersham basement flat for a while due to taking a sabbatical. We instructed a Somersham conveyancing practice in 2002 but they have closed and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?

Notwithstanding that your last Somersham conveyancing lawyer is not available you can check your lease to see if it allows you to sublet the premises. The accepted inference is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you need to obtain permission from your landlord or some other party prior to subletting. The net result is you not allowed to sublet without prior permission. The consent must not not be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you should ask your landlord for their consent.

I only have 68 years remaining on my lease in Somersham. I now wish to extend my lease but my landlord is missing. What options are available to me?

If you meet the appropriate requirements, 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 mean that your lease can be extended by the magistrate. You will be obliged to prove that you have done all that could be expected to track down the freeholder. On the whole a specialist would be helpful to conduct investigations and prepare an expert document to be used as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s absence and the application to the County Court overseeing Somersham.

Last month I purchased a leasehold house in Somersham. Do I have any liability for service charges relating to a period prior to completion of my purchase?

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 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).

All being well we will complete the disposal of our £350000 apartment in Somersham next Friday . The freeholder has quoted £384 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Somersham?

Somersham conveyancing on leasehold maisonettes often requires the purchaser’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be content to assist. They may levy a reasonable charge for answering 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 is above £800. The management information fee levied by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the charge is technically not due. Reality however dictates that you have little option but to pay whatever is demanded should you wish to exchange contracts with the buyer.

Are there frequently found defects that you come across in leases for Somersham properties?

There is nothing unique about leasehold conveyancing in Somersham. Most leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

  • A provision to repair to or maintain parts of the premises
  • Insurance obligations
  • A provision for the recovery of money spent for the benefit of another party.
  • Service charge per centages that don't add up correctly leaving a shortfall

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. Yorkshire Building Society, Chelsea Building Society, and Britannia all have express 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 buyer to withdraw.

I purchased a 2 bed flat in Somersham, conveyancing formalities finalised 1996. 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? Corresponding properties in Somersham with over 90 years remaining are worth £257,000. The ground rent is £45 charged once a year. The lease terminates on 21st October 2090

With 66 years left to run we estimate the premium for your lease extension to range between £15,200 and £17,600 as well as costs.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.

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Lease Extensions in Somersham