Cranfield leasehold conveyancing: Q and A’s
I want to let out my leasehold flat in Cranfield. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Some leases for properties in Cranfield do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience dictates 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.
I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Cranfield. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
Most houses in Cranfield are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Cranfield in which case you should be looking for a Cranfield conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer should report to you on the legal implications.
Back In 2005, I bought a leasehold flat in Cranfield. Conveyancing and TSB mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Cranfield who acted for me is not around.Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the new freeholder. You do not need to instruct a Cranfield conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Last month I purchased a leasehold property in Cranfield. Do I have any liability for service charges relating to a period prior to my ownership?
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. 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).
Can you offer any advice when it comes to finding a Cranfield conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Cranfield conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Cranfield conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- How experienced is the practice with lease extension legislation?
I acquired a studio flat in Cranfield, conveyancing was carried out 2009. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Cranfield with a long lease are worth £170,000. The average or mid-range amount of ground rent is £55 per annum. The lease finishes on 21st October 2090
With 66 years unexpired we estimate the premium for your lease extension to span between £13,300 and £15,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.
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