Common questions relating to Sunningdale leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Sunningdale. Before diving in I want to be sure as to the remaining lease term.
Assuming the lease is registered - and 99.9% are in Sunningdale - 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 want to let out my leasehold flat in Sunningdale. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Notwithstanding that your previous Sunningdale conveyancing solicitor is not around you can review your lease to check if it allows you to sublet the premises. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek consent from your landlord or other appropriate person before subletting. The net result is that you cannot sublet without prior consent. The consent must not not be unreasonably withheld. If your lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.
Back In 2004, I bought a leasehold flat in Sunningdale. Conveyancing and Lloyds TSB Bank mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Sunningdale who acted for me is not around.What should I do?
First make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Sunningdale conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I work for a long established estate agent office in Sunningdale where we have experienced a number of flat sales jeopardised due to short leases. I have received inconsistent advice from local Sunningdale conveyancing solicitors. Can you shed some light as to whether the owner of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means 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 has to be done before, or at the same time as 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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £400000 maisonette in Sunningdale on Wednesday in a week. The management company has quoted £360 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Sunningdale?
For the majority of leasehold sales in Sunningdale conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-contract questions
- Where consent is required before sale in Sunningdale
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I purchased a 2 bed flat in Sunningdale, conveyancing having been completed in 1999. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Sunningdale with a long lease are worth £257,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease ends on 21st October 2073
With only 52 years remaining on your lease the likely cost is going to span between £34,200 and £39,600 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.