Recently asked questions relating to Stanley leasehold conveyancing
I am on look out for some leasehold conveyancing in Stanley. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in Stanley - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I would like to let out my leasehold flat in Stanley. 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 Stanley do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review 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 only have Seventy years left on my lease in Stanley. I need to extend my lease but my landlord is can not be found. What should I do?
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 for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you have made all reasonable attempts to find the freeholder. In some cases a specialist may be helpful to conduct investigations and to produce a report which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Stanley.
I am employed by a long established estate agency in Stanley where we see a few flat sales put at risk as a result of short leases. I have received contradictory information from local Stanley conveyancing solicitors. Please can you confirm whether the owner of a flat can instigate the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
All being well we will complete the sale of our £200000 flat in Stanley on Friday in a week. The managing agents has quoted £396 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Stanley?
Stanley conveyancing on leasehold apartments usually necessitates the purchaser’s conveyancer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions most will be willing to assist. They are entitled invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee levied by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is not strictly payable. Reality however dictates that one has little choice but to pay whatever is demanded should you wish to sell the property.
Leasehold Conveyancing in Stanley - Sample of Queries Prior to buying
The majority of Stanley leasehold flats will have a service charge for maintenance of the block levied on behalf of the landlord. Where you acquire the apartment you will have to pay this contribution, normally quarterly throughout the year. This can be anything from a few hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. There will also be a ground rent to be met annual, ordinarily this is not a significant figure, say approximately £25-£75 but you should to check it because occasionally it could be surprisingly expensive.
You should want to find out as much as possible regarding the company managing the block as they will affect your use and enjoyment of the property. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to daily matters like the tidiness of the common parts. Ask other tenants what they think of their management. On a final note, be sure you discover the dates that the service fees are due to the managing agents and precisely what it includes.
It is important to be aware whether a new roof is being put on or some other major work is due shortly to be shared amongst the tenants and may well dramatically impact the level of the maintenance costs or result in a one off invoice.