Experts for Leasehold Conveyancing in Arlesey

While any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Arlesey, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Arlesey leasehold conveyancing: Q and A’s

I want to sublet my leasehold flat in Arlesey. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Notwithstanding that your last Arlesey conveyancing solicitor is no longer around you can review your lease to see if you are permitted to let out the property. The rule is that if the lease is non-specific, subletting is permitted. There may be a precondition that you need to obtain consent from your landlord or other appropriate person in advance of subletting. The net result is you not allowed to sublet in the absence of first obtaining permission. Such consent must not not be unreasonably refused ore delayed. If your lease prohibits you from letting out the property you should ask your landlord for their consent.

I have just started marketing my garden flat in Arlesey.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge demand – what should I do?

The sensible thing to do is pay the service charge 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.

I am a negotiator for a long established estate agent office in Arlesey where we have experienced a few flat sales put at risk as a result of leases having less than 80 years remaining. I have been given contradictory information from local Arlesey conveyancing firms. Could you confirm whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Completion in due on the sale of our £375000 apartment in Arlesey in 8 days. The freeholder has quoted £324 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Arlesey?

For the majority of leasehold sales in Arlesey conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

  • Answering pre-exchange questions
  • Where consent is required before sale in Arlesey
  • Supplying insurance information
  • Deeds of covenant upon sale
  • Registering of the assignment of the change of lessee after a sale
Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Arlesey leasehold property is £350. For Arlesey conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide the information.

What makes a Arlesey lease unmortgageable?

There is nothing unique about leasehold conveyancing in Arlesey. All leases are unique and drafting errors can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

  • A provision to repair to or maintain elements of the property
  • A duty to insure the building
  • Clauses dealing with recovering service charges for expenditure on the building or common parts.
  • 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 as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, The Mortgage Works, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.

Leasehold Conveyancing in Arlesey - Examples of Queries before buying

    You will want to discover as much as you can about the managing agents as they can either make life much simpler or much more difficult. As the proprietor of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to day to day matters like the tidiness of the common parts. Enquire of prospective neighbours whether they are happy with them. In conclusion, investigate as to the dates that the maintenance charges are due to the managing agents and precisely what it includes. How much is the maintenance charge and ground rent on the flat? Most Arlesey leasehold properties will incur a service charge for the upkeep of the block levied on behalf of the landlord. Should you purchase the property you will have to pay this amount, normally periodically throughout the year. This could vary from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. There will also be a rentcharge to be met annual, ordinarily this is not a large figure, say around £50-£100 but you need to enquire it because on occasion it could be many hundreds of pounds.

Other Topics

Lease Extensions in Arlesey