Yaxley leasehold conveyancing Example Support Desk Enquiries
My fiance and I may need to rent out our Yaxley basement flat for a while due to taking a sabbatical. We instructed a Yaxley conveyancing practice in 2002 but they have since shut and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
The lease dictates the relationship between the landlord and you the flat owner; specifically, it will set out if subletting is banned, 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 Yaxley do not contain subletting altogether – such a provision would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
Having checked my lease I have discovered that there are only Sixty One years left on my lease in Yaxley. I now want to get lease extension but my freeholder is missing. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to prove that you have done all that could be expected to locate the lessor. For most situations a specialist may be useful to conduct investigations and to produce an expert document to be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Yaxley.
Expecting to complete next month on a ground floor flat in Yaxley. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Yaxley should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I am looking at a two maisonettes in Yaxley both have in the region of forty five years remaining on the leases. Will this present a problem?
There are plenty of short leases in Yaxley. The lease is a right to use the premises for a period of time. As the lease shortens the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this arena
Completion in due on the disposal of our £200000 flat in Yaxley on Friday in a week. The freeholder has quoted £312 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Yaxley?
Yaxley conveyancing on leasehold flats usually necessitates the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries the majority will be content to do so. They are at liberty charge a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge invoiced by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, otherwise the charge is not strictly payable. Reality however dictates that you have no option but to pay whatever is demanded if you want to exchange contracts with the buyer.
Yaxley Leasehold Conveyancing - Sample of Questions you should ask Prior to buying
Are there any major works on the horizon that could add a premium to the maintenance fees?
How much is the ground rent and service charge?
How many years remain on the lease?