Frank (my husband) and I may need to sub-let our Allenton 1st floor flat for a while due to a new job. We instructed a Allenton conveyancing practice in 2001 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Allenton 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 permission.

Planning to exchange soon on a leasehold property in Allenton. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Allenton should include some of the following:

• Will you be prohibited or prevented from having pets in the property?

I've found a house that seems to be perfect, at a great figure which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Allenton. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

Most houses in Allenton are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Allenton so you should seriously consider shopping around for a Allenton conveyancing practitioner and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor will advise you fully on all the issues.

I am attracted to a couple of apartments in Allenton both have approximately fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Allenton. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the saleability of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field

If all goes to plan we aim to complete our sale of a £475000 apartment in Allenton next Friday . The landlords agents has quoted £420 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Allenton?

Allenton conveyancing on leasehold apartments more often than not necessitates the buyer’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries the majority will be content to do so. They are at liberty levy a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some situations it is in excess of £800. The administration charge required by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, without which the charge is not strictly payable. In reality you have little option but to pay whatever is demanded if you want to sell the property.

Leasehold Conveyancing in Allenton - Sample of Queries Prior to buying

Is the freehold reversion owned collectively by the leaseholders? You should be aware that where the lease has less than eighty years it will have adverse implications on the value of the property. It is worth checking with your mortgage company that they are happy with the length of the lease. A short lease means that you will most likely have to extend the lease sooner rather than later and it is worth discovering what this would cost. Remember, in most cases you would be required to have been the owner of the premises for a couple of years in order to be entitled to exercise a lease extension. How much is the service charge and ground rent on the property?

Other Topics

Lease Extensions in Allenton