Recently asked questions relating to Swinton leasehold conveyancing
I want to let out my leasehold apartment in Swinton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Some leases for properties in Swinton 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 see references. Experience dictates 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 permission.
There are only 72 years unexpired on my lease in Swinton. I now want to extend my lease but my freeholder is can not be found. What should I do?
If you qualify, 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 extended by the Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to locate the freeholder. For most situations an enquiry agent may be useful to try and locate and prepare an expert document to be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Swinton.
I have just appointed agents to market my basement apartment in Swinton.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – Do I pay up?
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 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. This will smooth the conveyancing process.
I am tempted by the attractive purchase price for a couple of flats in Swinton both have in the region of forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Swinton. The lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the saleability of the lease deteriorate and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field
Can you provide any advice for leasehold conveyancing in Swinton from the perspective of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Swinton can be bypassed if you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the purchasers’ lawyers.
- Many freeholders or Management Companies in Swinton levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Swinton.
I own a 1st floor flat in Swinton, conveyancing having been completed 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Swinton with a long lease are worth £266,000. The average or mid-range amount of ground rent is £50 per annum. The lease finishes on 21st October 2080
You have 57 years remaining on your lease the likely cost is going to range between £23,800 and £27,400 as well as costs.
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 without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.