Examples of recent questions relating to leasehold conveyancing in Ardwick
My partner and I may need to rent out our Ardwick basement flat temporarily due to a career opportunity. We instructed a Ardwick conveyancing firm in 2001 but they have since shut and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?
Your lease dictates relations between the landlord and you the flat owner; specifically, 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. The majority of leases in Ardwick do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I am looking at a couple of flats in Ardwick both have about fifty years remaining on the lease term. should I be concerned?
There are plenty of short leases in Ardwick. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the marketability of the lease decreases and it becomes more expensive to extend the lease. This is why it is advisable to extend the lease term. It is often difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend 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 Ardwick conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Ardwick conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Ardwick conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- If the firm is not ALEP accredited then why not?
If all goes to plan we aim to complete the disposal of our £275000 flat in Ardwick next week. The freeholder has quoted £384 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Ardwick?
For the majority of leasehold sales in Ardwick conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-contract questions
- Where consent is required before sale in Ardwick
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
In relation to leasehold conveyancing in Ardwick what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Ardwick. All leases are unique and drafting errors can result in certain sections are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the property
- 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
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, The Mortgage Works, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.
Leasehold Conveyancing in Ardwick - Examples of Questions you should consider Prior to Purchasing
The answer will be useful as a) areas can cause problems for the block as the common areas may start to deteriorate if services remain unpaid b) if the tenants have an issue with the managing agents you will need to have all the details
Is anyone aware of any major works anticipated that could add a premium to the service fees?
How much is the ground rent and service charge?