Top Five Questions relating to Cambridge leasehold conveyancing
I am on look out for some leasehold conveyancing in Cambridge. Before I get started I want to be sure as to the number of years remaining on the lease.
If the lease is registered - and almost all are in Cambridge - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I want to let out my leasehold flat in Cambridge. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Your lease dictates the relationship between the freeholder and you the leaseholder; in particular, it will indicate if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Cambridge do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I have recently realised that I have 72 years remaining on my lease in Cambridge. I now want to extend my lease but my landlord is absent. 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 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 demonstrate that you or your lawyers have used your best endeavours to track down the lessor. For most situations a specialist may be helpful to carry out a search and prepare an expert document which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s absence and the application to the County Court covering Cambridge.
I own a leasehold house in Cambridge. Conveyancing and Coventry Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Cambridge who previously acted has long since retired.Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Cambridge conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. 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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £175000 apartment in Cambridge next week. The landlords agents has quoted £324 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Cambridge?
Cambridge conveyancing on leasehold flats usually necessitates the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be willing to assist. They are entitled invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it is above £800. The management information fee required by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, otherwise the charge is technically not due. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to sell the property.
I purchased a ground floor flat in Cambridge, conveyancing formalities finalised in 1997. Can you work out an approximate cost of a lease extension? Similar properties in Cambridge with a long lease are worth £253,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease expires on 21st October 2078
You have 53 years remaining on your lease the likely cost is going to be between £37,100 and £42,800 as well as legals.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
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