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Abersychan leasehold conveyancing: Q and A’s

Harry (my fiance) and I may need to sub-let our Abersychan ground floor flat for a while due to a career opportunity. We used a Abersychan conveyancing firm in 2002 but they have closed and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?

Some leases for properties in Abersychan do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to 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 have just started marketing my basement flat in Abersychan.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should 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 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. This will smooth the conveyancing process.

I've recently bought a leasehold house in Abersychan. Am I liable to pay service charges for periods before completion of my purchase?

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 be sure 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).

Do you have any advice for leasehold conveyancing in Abersychan with the aim of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Abersychan can be bypassed if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the buyers conveyancers.
  • The majority landlords or managing agents in Abersychan levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Abersychan.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Abersychan state that internal structural alterations or addition of wooden flooring require a licence from the Landlord acquiescing to such works. If you dont have the approvals in place you should not communicate with the landlord without contacting your conveyancer in advance.
  • A minority of Abersychan leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying 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 purchasers or their solicitors.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share certificate. Arranging a duplicate share certificate is often a time consuming formality and slows down many a Abersychan conveyancing deal. Where a duplicate share certificate is needed, you should approach the company officers or managing agents (where relevant) for this as soon as possible.

    • Are there common deficiencies that you encounter in leases for Abersychan properties?

    There is nothing unique about leasehold conveyancing in Abersychan. Most leases is drafted differently and drafting errors can sometimes mean that certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the building
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, The Royal Bank of Scotland, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.

    Abersychan Conveyancing for Leasehold Flats - Sample of Questions you should ask before buying

      Are any of leasehold owners in arrears of their service charge liability? The majority of Abersychan leasehold apartments will be liable to pay a service bill for the upkeep of the building invoiced on behalf of the management company. If you purchase the flat you will have to pay this amount, usually quarterly accross the year. This may differ from several hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a rentcharge to be met annual, ordinarily this is not a large amount, say around £25-£75 but you should to enquire it because sometimes it could be many hundreds of pounds. The answer will be helpful as a) areas can cause problems for the block as the communal areas may begin to deteriorate if maintenance are not paid for b) if the tenants have a dispute with the running of the building you will wish to have full disclosure

    Other Topics

    Lease Extensions in Abersychan