Common questions relating to Whittlesey leasehold conveyancing
My wife and I may need to sub-let our Whittlesey garden flat for a while due to taking a sabbatical. We used a Whittlesey conveyancing firm in 2004 but they have since shut and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?
The lease governs relations between the freeholder and you the flat owner; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Whittlesey do not contain strict prohibition on subletting – such a provision would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
I am hoping to exchange soon on a garden flat in Whittlesey. Conveyancing lawyers inform me that they report fully next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Whittlesey should include some of the following:
- You should receive a copy of the lease
Estate agents have just been given the go-ahead to market my ground floor flat in Whittlesey.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?
It best that you discharge 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 management companies 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. This will smooth the conveyancing process.
I've found a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Whittlesey. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Whittlesey ?
The majority of houses in Whittlesey are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Whittlesey in which case you should be shopping around for a Whittlesey conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should appraise you on the various issues.
Back In 2003, I bought a leasehold house in Whittlesey. Conveyancing and The Mortgage Works mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Whittlesey who previously acted has now retired.What should I do?
The first thing you should do is make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Whittlesey conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I invested in buying a leasehold flat in Whittlesey, conveyancing having been completed 2010. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Whittlesey with a long lease are worth £178,000. The ground rent is £65 levied per year. The lease runs out on 21st October 2097
With only 77 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 plus professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.