I wish to let out my leasehold apartment in Thornaby. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Even though your last Thornaby 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 deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you need to obtain consent from your landlord or some other party prior to subletting. This means you not allowed to sublet in the absence of prior consent. Such consent is not allowed to be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord for their consent.

I am tempted by the attractive purchase price for a two maisonettes in Thornaby which have about 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a period of time. As a lease gets shorter the value of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this field

I've recently bought a leasehold property in Thornaby. 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 lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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 ensure 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).

Can you provide any advice for leasehold conveyancing in Thornaby from the perspective of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Thornaby can be bypassed where you get in touch lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information needed by the purchasers’ representatives.
• The majority landlords or managing agents in Thornaby charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Thornaby.

In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Thornaby leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord acquiescing to such changes. Where you dont have the approvals to hand do not communicate with the landlord without checking with your conveyancer in the first instance.

If you have had conflict with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unsettled.

You believe that you know the number of years left on your lease but it would be wise to double-check by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is less than 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

All being well we will complete the disposal of our £175000 flat in Thornaby next week. The management company has quoted £360 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Thornaby?

Thornaby conveyancing on leasehold apartments ordinarily necessitates administration charges raised by management companies :

• Completing pre-contract enquiries
• Where consent is required before sale in Thornaby
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Thornaby leasehold premises is £350. For Thornaby conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

I inherited a 1 bedroom flat in Thornaby, conveyancing was carried out in 2004. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Thornaby with a long lease are worth £245,000. The average or mid-range amount of ground rent is £65 levied per year. The lease expires on 21st October 2085

With 62 years remaining on your lease we estimate the price of your lease extension to range between £16,200 and £18,600 plus legals.

The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Thornaby