Fixed-fee leasehold conveyancing in Stanley:

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Any conveyancing practice can theoretically handle your leasehold conveyancing in Stanley, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Stanley leasehold conveyancing Example Support Desk Enquiries

I would like to sublet my leasehold flat in Stanley. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

The lease governs the relationship between the landlord and you the flat owner; in particular, it will set out if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Stanley do not contain strict prohibition on subletting – such a clause would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

I am hoping to sign contracts shortly on a garden flat in Stanley. Conveyancing lawyers assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Stanley should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
  • Whether the lease restricts you from renting out the property, or having a home office for business
  • You need to be told what constitutes a Nuisance in the lease
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • What options are open to you if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Stanley please ask your solicitor in advance of your conveyancing in Stanley

    • I have just started marketing my 2 bed apartment in Stanley.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge demand – should I leave it to the buyer to sort out?

    It best that you clear the service charge 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 unless 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.

    I've recently bought a leasehold flat in Stanley. Am I liable to pay service charges relating to a period prior to completion of my purchase?

    In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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).

    I work for a long established estate agency in Stanley where we see a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Stanley conveyancing solicitors. Could you clarify whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

    An alternative approach is 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 purchaser.

    I acquired a basement flat in Stanley, conveyancing formalities finalised in 2000. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Stanley with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £50 per annum. The lease runs out on 21st October 2080

    You have 55 years unexpired we estimate the price of your lease extension to be between £26,600 and £30,800 plus legals.

    The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Stanley