Fixed-fee leasehold conveyancing in Creekmouth:

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Creekmouth leasehold conveyancing: Q and A’s

I am intending to rent out my leasehold apartment in Creekmouth. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

A small minority of properties in Creekmouth do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review 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.

I own a leasehold house in Creekmouth. Conveyancing and Nationwide Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Creekmouth who acted for me is not around.Do I pay?

The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Creekmouth conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a two flats in Creekmouth which have about 50 years unexpired on the lease term. Will this present a problem?

A lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease reduces and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area

Can you offer any advice when it comes to appointing a Creekmouth conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Creekmouth conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Creekmouth conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • How many lease extensions has the firm conducted in Creekmouth in the last twenty four months?
  • What are the costs for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in Creekmouth from the point of view of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Creekmouth can be avoided where you instruct lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information which will be required by the purchasers’ conveyancers.
    • The majority freeholders or managing agents in Creekmouth levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Creekmouth.
  • Some Creekmouth leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a flat where a dispute is ongoing. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than unsettled.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share certificate. Obtaining a new share certificate can be a time consuming process and slows down many a Creekmouth home move. If a new share is necessary, do contact the company officers or managing agents (if applicable) for this as soon as possible.

    • I own a garden flat in Creekmouth. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?

    in cases where there is a missing landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the price payable.

    An example of a Lease Extension decision for a Creekmouth premises is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 69.77 years.

    Other Topics

    Lease Extensions in Creekmouth