Common questions relating to Tickton leasehold conveyancing
I am on look out for some leasehold conveyancing in Tickton. Before diving in I require certainty as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and 99.9% are in Tickton - then the leasehold title will always include the short particulars 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.
My fiance and I may need to rent out our Tickton basement flat temporarily due to a new job. We used a Tickton conveyancing practice in 2003 but they have closed and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?
Some leases for properties in Tickton do contain a provision to say that subletting is only allowed with permission. The landlord cannot 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.
I’m about to sell my basement apartment in Tickton.Conveyancing has not commenced but I have just received a half-yearly maintenance charge demand – what should I do?
The sensible thing to do is clear 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 managing agents will not acknowledge the buyer unless 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've recently bought a leasehold flat in Tickton. Do I have any liability for service charges relating to a period prior to my ownership?
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. 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 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).
All being well we will complete our sale of a £500000 maisonette in Tickton on Monday in a week. The management company has quoted £300 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 Tickton?
Tickton conveyancing on leasehold apartments often requires the purchaser’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be willing to assist. They may levy a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some situations it exceeds £800. The administration charge invoiced by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, otherwise the charge is technically not due. In reality one has no choice but to pay whatever is requested of you if you want to sell the property.
I am the registered owner of a 1 bedroom flat in Tickton, conveyancing having been completed 8 years ago. 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? Corresponding flats in Tickton with a long lease are worth £240,000. The average or mid-range amount of ground rent is £45 yearly. The lease runs out on 21st October 2093
With only 68 years unexpired we estimate the premium for your lease extension to range between £15,200 and £17,600 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more 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 want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.
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