Recently asked questions relating to Wadhurst leasehold conveyancing
I am intending to let out my leasehold flat in Wadhurst. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Even though your previous Wadhurst conveyancing lawyer is not around you can review your lease to check if it allows you to sublet the premises. The rule is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek permission from your landlord or some other party prior to subletting. This means you not allowed to sublet in the absence of first obtaining consent. Such consent should not be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.
I am hoping to sign contracts shortly on a ground floor flat in Wadhurst. Conveyancing solicitors inform me that they report fully tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Wadhurst should include some of the following:
- You should receive a copy of the lease
I've recently bought a leasehold house in Wadhurst. 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).
What advice can you give us when it comes to choosing a Wadhurst conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Wadhurst conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Wadhurst conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- What volume of lease extensions have they completed in Wadhurst in the last year?
Do you have any top tips for leasehold conveyancing in Wadhurst with the aim of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Wadhurst can be avoided if you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
- The majority landlords or managing agents in Wadhurst charge for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Wadhurst.
I invested in buying a 1st floor flat in Wadhurst, conveyancing having been completed 2011. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Wadhurst with a long lease are worth £219,000. The ground rent is £55 levied per year. The lease ends on 21st October 2086
You have 65 years remaining on your lease we estimate the premium for your lease extension to range between £18,100 and £20,800 plus 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 supply a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.