Top Five Questions relating to Warfield leasehold conveyancing
I would like to let out my leasehold apartment in Warfield. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Even though your previous Warfield conveyancing lawyer is no longer available you can check your lease to see if it allows you to sublet the premises. The rule is that if the lease is non-specific, subletting is permitted. There may be a precondition that you need to obtain permission via your landlord or some other party in advance of subletting. This means that you cannot sublet in the absence of first obtaining permission. Such consent should not be unreasonably refused ore delayed. If the lease prohibits you from letting out the property you should ask your landlord for their consent.
Expecting to complete next month on a studio apartment in Warfield. Conveyancing solicitors inform me that they will have a report out to me tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Warfield should include some of the following:
- Setting out your rights in relation to common areas in the block.E.G., does the lease provide for a right of way over an accessway or hallways?
I have just appointed agents to market my ground floor apartment in Warfield.Conveyancing has not commenced but I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
My wife and I purchased a leasehold flat in Warfield. Conveyancing and Alliance & Leicester mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Warfield who previously acted has now retired.Do I pay?
The first thing you should do is make enquiries of HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Warfield conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Last month I purchased a leasehold flat in Warfield. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation 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. 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 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 own a garden flat in Warfield, conveyancing was carried out 6 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Warfield with an extended lease are worth £256,000. The ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2093
With just 72 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed investigations. You should not use this information 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 without first seeking the advice of a professional.