St Austell leasehold conveyancing: Q and A’s
I wish to let out my leasehold flat in St Austell. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Some leases for properties in St Austell do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse 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 consent.
I have recently realised that I have Sixty One years remaining on my lease in St Austell. I am keen to get lease extension but my landlord is missing. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to track down the freeholder. In some cases a specialist would be helpful to carry out a search and prepare an expert document to be used as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to investigating the landlord’s disappearance and the application to the County Court overseeing St Austell.
Looking forward to exchange soon on a garden flat in St Austell. Conveyancing solicitors have said that they report fully next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in St Austell should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
- Whether the lease restricts you from renting out the flat, or working from home
- You should have a good understanding of the insurance provisions
- Repair and maintenance of the flat
- I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
- What the implications are if you breach a clause of your lease?
I am attracted to a two apartments in St Austell both have in the region of fifty years remaining on the leases. Will this present a problem?
There are plenty of short leases in St Austell. The lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the marketability of the lease decreases and results in it becoming more costly to extend the lease. This is why it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this arena
I've recently bought a leasehold house in St Austell. Am I liable to pay service charges for periods before my ownership?
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. It is an essential part 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).
I am the registered owner of a studio flat in St Austell, conveyancing was carried out in 2000. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in St Austell with an extended lease are worth £261,000. The ground rent is £65 charged once a year. The lease ceases on 21st October 2081
You have 55 years left to run we estimate the premium for your lease extension to span between £30,400 and £35,200 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.