Top Five Questions relating to Wareham leasehold conveyancing
Helen (my wife) and I may need to sub-let our Wareham 1st floor flat temporarily due to a new job. We instructed a Wareham conveyancing firm in 2001 but they have closed and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?
Even though your last Wareham conveyancing lawyer is not available you can review your lease to see if it allows you to sublet the apartment. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you are obliged to seek consent from your landlord or other appropriate person in advance of subletting. This means you not allowed to sublet without prior permission. Such consent is not allowed to be unreasonably refused ore delayed. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
Planning to exchange soon on a studio apartment in Wareham. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Wareham should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
- Does the lease prevent you from letting out the property, or having a home office for business
- Ground rent - how much and when you need to pay, and also know whether this will change in the future
- Repair and maintenance of the flat
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
- What options are open to you if a neighbour is in violation of a provision in their lease?
- What the implications are if you breach a clause of your lease?
Back In 2005, I bought a leasehold flat in Wareham. Conveyancing and National Westminster Bank mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Wareham who acted for me is not around.Do I pay?
The first thing you should do is contact the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Wareham conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold flat in Wareham. Am I liable to pay service charges relating to a period prior to my ownership?
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 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 Wareham conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Wareham conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Wareham conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:
- How experienced is the practice with lease extension legislation?
- What volume of lease extensions have they carried out in Wareham in the last 12 months?
I am the registered owner of a basement flat in Wareham, conveyancing formalities finalised 1997. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Wareham with over 90 years remaining are worth £198,000. The ground rent is £60 per annum. The lease ceases on 21st October 2103
You have 77 years remaining on your lease we estimate the price of your lease extension to range between £9,500 and £11,000 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. 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. You should not take any other action based on this information without first seeking the advice of a professional.