Recently asked questions relating to Stanford Le Hope leasehold conveyancing
I want to rent out my leasehold flat in Stanford Le Hope. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Your lease governs the relationship between the landlord and you the flat owner; in particular, it will say if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Stanford Le Hope do not contain subletting altogether – such a clause would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
Expecting to complete next month on a studio apartment in Stanford Le Hope. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Stanford Le Hope should include some of the following:
- Defining your legal entitlements in relation to the communal areas in the building.For instance, does the lease permit a right of way over a path or hallways?
- Do you need to have carpet in the flat or are you allowed wood flooring?
- Ground rent - how much and when you need to pay, and also know whether this is subject to change
- You should have a good understanding of the insurance provisions
- Changes to the flat (alterations and additions)
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
- What the implications are if you breach a clause of your lease?
My wife and I purchased a leasehold flat in Stanford Le Hope. Conveyancing and Clydesdale mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Stanford Le Hope who previously acted has long since retired.Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Stanford Le Hope conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a two flats in Stanford Le Hope which have approximately forty five years unexpired on the leases. Will this present a problem?
A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the saleability 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. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this arena
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £ 275000 flat in Stanford Le Hope in nine days. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Stanford Le Hope?
For the majority of leasehold sales in Stanford Le Hope conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-exchange enquiries
- Where consent is required before sale in Stanford Le Hope
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I bought a leasehold flat in Stanford Le Hope, conveyancing was carried out in 2009. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Stanford Le Hope with a long lease are worth £207,000. The ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2087
With 61 years remaining on your lease we estimate the premium for your lease extension to span between £20,000 and £23,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. 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 should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.