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Questions and Answers: Yeovil leasehold conveyancing

I would like to rent out my leasehold apartment in Yeovil. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

A small minority of properties in Yeovil do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold 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 consent.

Looking forward to complete next month on a basement flat in Yeovil. Conveyancing lawyers inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Yeovil should include some of the following:

  • How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
  • Setting out your legal entitlements in relation to common areas in the building.By way of example, does the lease contain a right of way over an accessway or staircase?
  • Whether your lease has a provision for a reserve fund?
  • You should have a good understanding of the insurance provisions
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What options are open to you if a neighbour breach a clause of their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Yeovil please ask your conveyancer in advance of your conveyancing in Yeovil

    • I’m about to sell my basement apartment in Yeovil.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge invoice – Do I pay up?

    The sensible thing to do is 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 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.

    Back In 2005, I bought a leasehold flat in Yeovil. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Yeovil who previously acted has long since retired.Any advice?

    First contact HMLR to be sure that this person is in fact the new freeholder. You do not need to instruct a Yeovil conveyancing solicitor to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I've recently bought a leasehold flat in Yeovil. Am I liable to pay service charges for periods before my ownership?

    In a situation where the service charge has already been demanded from the previous owner 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 am the registered owner of a basement flat in Yeovil, conveyancing formalities finalised 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Yeovil with an extended lease are worth £183,000. The ground rent is £65 invoiced annually. The lease ends on 21st October 2089

    With 63 years unexpired we estimate the premium for your lease extension to span between £16,200 and £18,600 plus plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Yeovil