Examples of recent questions relating to leasehold conveyancing in Watton
I am intending to let out my leasehold apartment in Watton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Even though your previous Watton conveyancing lawyer is not around you can check your lease to check if you are permitted to let out the premises. The accepted inference is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you must seek consent from your landlord or some other party in advance of subletting. This means that you cannot sublet in the absence of prior consent. The consent is not allowed to be unreasonably turned down. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
I have recently realised that I have 62 years left on my flat in Watton. I now want to get lease extension but my landlord is missing. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you have used your best endeavours to locate the landlord. For most situations a specialist may be useful to carry out a search and to produce an expert document to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Watton.
Estate agents have just been given the go-ahead to market my garden flat in Watton.Conveyancing has not commenced but I have just received a half-yearly service charge invoice – what should I do?
The sensible thing to do is discharge the service charge 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 unless 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. This will smooth the conveyancing process.
I've found a house that appears to meet my requirements, at a great figure which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Watton. Conveyancing advisers have not yet been instructed. Will they explain the issues?
Most houses in Watton are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Watton so you should seriously consider looking for a Watton conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your lawyer will advise you fully on all the issues.
We expect to complete the disposal of our £325000 flat in Watton on Wednesday in a week. The management company has quoted £336 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Watton?
Watton conveyancing on leasehold flats normally necessitates the purchaser’s conveyancer submitting enquiries for the landlord to address. Although the landlord is not legally bound to address such questions most will be willing to assist. They may charge a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some transactions it is in excess of £800. The administration charge required by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that you have little choice but to pay whatever is requested of you if you want to complete the sale of your home.
I acquired a studio flat in Watton, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Watton with over 90 years remaining are worth £214,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease ceases on 21st October 2085
With only 60 years left to run the likely cost is going to range between £23,800 and £27,400 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.
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