Trimdon leasehold conveyancing Example Support Desk Enquiries
I want to let out my leasehold apartment in Trimdon. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Some leases for properties in Trimdon do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review 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 consent.
I've recently bought a leasehold house in Trimdon. 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 owner 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. A critical element 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).
I am a negotiator for a reputable estate agency in Trimdon where we have experienced a number of leasehold sales jeopardised due to short leases. I have received inconsistent advice from local Trimdon conveyancing firms. Can you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
All being well we will complete the sale of our £375000 flat in Trimdon in just under a week. The freeholder has quoted £312 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Trimdon?
Trimdon conveyancing on leasehold flats often requires the purchaser’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to answer these enquiries most will be willing to do so. They are entitled invoice 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 cases it is above £800. The management information fee invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, without which the charge is technically not due. Reality however dictates that you have little choice but to pay whatever is demanded if you want to exchange contracts with the buyer.
In relation to leasehold conveyancing in Trimdon what are the most common lease defects?
Leasehold conveyancing in Trimdon is not unique. All leases are individual and drafting errors can result in certain provisions are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, The Mortgage Works, and Godiva Mortgages Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to pull out.
I bought a 1 bedroom flat in Trimdon, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Trimdon with an extended lease are worth £242,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease comes to an end on 21st October 2095
With only 75 years remaining on your lease the likely cost is going to be between £10,500 and £12,000 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.