Fixed-fee leasehold conveyancing in Stanley:

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Questions and Answers: Stanley leasehold conveyancing

I am intending 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?

Notwithstanding that your previous Stanley conveyancing solicitor is no longer available you can review your lease to see if it allows you to sublet the apartment. The rule is that if the lease is silent, subletting is allowed. There may be a precondition that you are obliged to seek consent via your landlord or other appropriate person before subletting. The net result is you not allowed to sublet in the absence of prior consent. The consent is not allowed to be unreasonably turned down. If your lease prohibits you from letting out the property you should ask your landlord for their consent.

I am hoping to sign contracts shortly on a studio apartment in Stanley. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. 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:

  • You should receive a copy of the lease
  • 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
  • Defining your legal entitlements in relation to common areas in the building.For example, does the lease include a right of way over a path or staircase?
  • Does the lease prohibit wood flooring?
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • What options are open to you if a neighbour is in violation of a provision in their lease?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Stanley please ask your solicitor in advance of your conveyancing in Stanley

    • I’m about to sell my basement flat in Stanley.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge demand – what should I do?

    The sensible thing to do is discharge the invoice 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 management companies will not acknowledge the buyer until 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. Having a clear account will assist your cause and will leave you no worse off financially.

    I've recently bought a leasehold property in Stanley. Do I have any liability for service charges for periods before 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. It is an essential part 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).

    What are your top tips when it comes to choosing a Stanley conveyancing firm to carry out our lease extension conveyancing?

    When appointing a property lawyer for your lease extension (regardless if they are a Stanley conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Stanley conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

    • How familiar is the practice with lease extension legislation?
  • How many lease extensions have they carried out in Stanley in the last twenty four months?

    • I purchased a leasehold flat in Stanley, conveyancing having been completed 1995. Can you work out an approximate cost of a lease extension? Similar flats in Stanley with over 90 years remaining are worth £250,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease terminates on 21st October 2076

    With 51 years unexpired the likely cost is going to range between £39,000 and £45,000 plus legals.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Stanley