Questions and Answers: Winsford leasehold conveyancing
My husband and I may need to let out our Winsford 1st floor flat temporarily due to taking a sabbatical. We used a Winsford conveyancing practice in 2003 but they have closed and we did not have the foresight to seek any guidance as to whether the lease permits subletting. How do we find out?
Some leases for properties in Winsford do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I’m about to sell my basement apartment in Winsford.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge invoice – Do I pay up?
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 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. 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 Winsford. Conveyancing and TSB mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Winsford who acted for me is not around.Do I pay?
First contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Winsford conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Last month I purchased a leasehold house in Winsford. Am I liable to pay service charges for periods before 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. A critical element 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 am a negotiator for a busy estate agency in Winsford where we see a number of leasehold sales jeopardised due to short leases. I have received inconsistent advice from local Winsford conveyancing firms. Can you shed some light as to whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I purchased a 1st floor flat in Winsford, conveyancing was carried out 7 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Winsford with a long lease are worth £236,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease terminates on 21st October 2075
With 52 years unexpired the likely cost is going to range between £33,300 and £38,400 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.