Top Five Questions relating to Toddington leasehold conveyancing
My husband and I may need to rent out our Toddington basement flat temporarily due to a career opportunity. We instructed a Toddington conveyancing firm in 2003 but they have closed and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?
A small minority of properties in Toddington do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review 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 permission.
Looking forward to exchange soon on a garden flat in Toddington. Conveyancing lawyers have said that they report fully within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Toddington should include some of the following:
- The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
Back In 2006, I bought a leasehold flat in Toddington. Conveyancing and Barnsley Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Toddington who previously acted has long since retired.Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Toddington conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Do you have any advice for leasehold conveyancing in Toddington with the aim of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Toddington can be avoided where you get in touch lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ representatives.
- If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Toddington leases often stipulate that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Where you dont have the paperwork to hand do not communicate with the landlord without checking with your lawyer in advance.
Completion in due on the disposal of our £125000 flat in Toddington next week. The managing agents has quoted £324 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Toddington?
Toddington conveyancing on leasehold maisonettes more often than not necessitates the purchaser’s lawyer submitting questions for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be willing to do so. They are entitled levy a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some transactions it is above £800. The management information fee required by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, without which the invoice is not strictly payable. In reality one has no option but to pay whatever is requested of you should you wish to sell the property.
I invested in buying a 1 bedroom flat in Toddington, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Toddington with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease finishes on 21st October 2099
With 78 years unexpired the likely cost is going to be between £12,400 and £14,200 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.