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Towyn leasehold conveyancing: Q and A’s

I want to sublet my leasehold flat in Towyn. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

A small minority of properties in Towyn 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 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.

What are your top tips when it comes to finding a Towyn conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Towyn conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Towyn conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

  • How many lease extensions have they completed in Towyn in the last year?
  • What are the charges for lease extension work?

    • Do you have any advice for leasehold conveyancing in Towyn from the point of view of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Towyn can be avoided if you get in touch lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ lawyers.
    • The majority landlords or managing agents in Towyn levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Towyn.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Towyn state that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord consenting to such changes. Should you fail to have the consents to hand do not contact the landlord without contacting your lawyer in the first instance.
  • A minority of Towyn leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you hold a share in a the freehold, you should make sure that you have the original share certificate. Arranging a new share certificate can be a time consuming formality and frustrates many a Towyn conveyancing transaction. If a new share certificate is required, you should approach the company officers or managing agents (where applicable) for this as soon as possible.

    • Completion in due on our sale of a £500000 flat in Towyn next week. The landlords agents has quoted £384 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Towyn?

    Towyn conveyancing on leasehold flats normally involves the buyer’s lawyer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address these enquiries most will be content to assist. They are entitled charge a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it is above £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, otherwise the invoice is technically not due. Reality however dictates that one has no option but to pay whatever is requested of you should you wish to sell the property.

    In relation to leasehold conveyancing in Towyn what are the most frequent lease problems?

    Leasehold conveyancing in Towyn is not unique. All leases are unique and drafting errors can result in certain sections are wrong. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the premises
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Barnsley Building Society, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.

    I own a split level flat in Towyn, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Equivalent flats in Towyn with an extended lease are worth £197,000. The ground rent is £60 charged once a year. The lease runs out on 21st October 2091

    With 66 years unexpired the likely cost is going to range between £15,200 and £17,600 as well as costs.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Towyn