Recently asked questions relating to Forest of Dean leasehold conveyancing
I would like to let out my leasehold flat in Forest of Dean. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Your lease dictates relations between the freeholder and you the leaseholder; in particular, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Forest of Dean do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
I have just appointed agents to market my ground floor apartment in Forest of Dean.Conveyancing has not commenced but I have just received a quarterly service charge demand – what should I do?
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 management companies will not acknowledge the buyer until 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 house in Forest of Dean. Conveyancing and Clydesdale mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Forest of Dean who acted for me is not around.Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. There is no need to instruct a Forest of Dean conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am looking at a two maisonettes in Forest of Dean which have about forty five years left on the leases. Will this present a problem?
A lease is a right to use the premises for a period of time. As a lease gets shorter the value of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field
What advice can you give us when it comes to appointing a Forest of Dean conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Forest of Dean conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Forest of Dean conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:
- How experienced is the practice with lease extension legislation?
I bought a leasehold flat in Forest of Dean, conveyancing having been completed in 2011. Can you work out an approximate cost of a lease extension? Comparable flats in Forest of Dean with a long lease are worth £248,000. The ground rent is £65 invoiced every year. The lease finishes on 21st October 2100
You have 76 years left to run we estimate the premium for your lease extension to range between £10,500 and £12,000 plus costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.
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