Recently asked questions relating to Stockport leasehold conveyancing
My partner and I may need to sub-let our Stockport garden flat for a while due to a career opportunity. We used a Stockport conveyancing firm in 2004 but they have since shut and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
A small minority of properties in Stockport do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold 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.
Due to exchange soon on a ground floor flat in Stockport. Conveyancing lawyers inform me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Stockport should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I have just appointed agents to market my basement apartment in Stockport.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should 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 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.
My wife and I purchased a leasehold flat in Stockport. Conveyancing and Bank of Ireland mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Stockport who previously acted has now retired.Any advice?
First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to instruct a Stockport conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
All being well we will complete the disposal of our £150000 apartment in Stockport in just under a week. The managing agents has quoted £360 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Stockport?
Stockport conveyancing on leasehold apartments usually necessitates the buyer’s lawyer sending questions for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be content to do so. They are entitled charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some cases it is above £800. The administration charge required by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, without which the invoice is not strictly payable. Reality however dictates that one has little option but to pay whatever is demanded should you wish to sell the property.
I own a ground floor flat in Stockport, conveyancing formalities finalised in 2001. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Stockport with a long lease are worth £178,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ends on 21st October 2071
With 50 years unexpired we estimate the premium for your lease extension to range between £38,000 and £44,000 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.