Top Five Questions relating to Trelogan leasehold conveyancing
My partner and I may need to let out our Trelogan ground floor flat temporarily due to taking a sabbatical. We used a Trelogan conveyancing firm in 2003 but they have closed and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?
A small minority of properties in Trelogan do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse 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.
I've found a house that seems to meet my requirements, at a great price which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Trelogan. Conveyancing solicitors have not yet been appointed. Will they explain the issues?
The majority of houses in Trelogan are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Trelogan in which case you should be looking for a Trelogan conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor will report to you on the legal implications.
I own a leasehold house in Trelogan. Conveyancing and HSBC Bank mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Trelogan who previously acted has now retired.Any advice?
First contact HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Trelogan conveyancing solicitor to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold flat in Trelogan. Am I liable to pay service charges for periods before completion of my purchase?
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. However, 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).
If all goes to plan we aim to complete the disposal of our £200000 garden flat in Trelogan in 10 days. The managing agents has quoted £420 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Trelogan?
Trelogan conveyancing on leasehold flats often requires the buyer’s lawyer sending questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be content to do so. They may invoice a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The administration charge demanded by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the charge is technically not due. Reality however dictates that you have little choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.
I acquired a split level flat in Trelogan, conveyancing formalities finalised in 2006. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Trelogan with a long lease are worth £190,000. The ground rent is £55 invoiced every year. The lease runs out on 21st October 2092
With only 72 years left to run we estimate the price of your lease extension to be between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.