Frequently asked questions relating to Aylesbury leasehold conveyancing
My husband and I may need to rent out our Aylesbury ground floor flat temporarily due to a career opportunity. We used a Aylesbury conveyancing practice in 2004 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?
Some leases for properties in Aylesbury do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see 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.
I've found a house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Aylesbury. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
Most houses in Aylesbury are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Aylesbury in which case you should be looking for a Aylesbury conveyancing practitioner and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your lawyer should appraise you on the various issues.
Do you have any advice for leasehold conveyancing in Aylesbury with the purpose of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Aylesbury can be avoided if you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers conveyancers.
- The majority freeholders or Management Companies in Aylesbury charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Aylesbury.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £125000 apartment in Aylesbury in 8 days. The managing agents has quoted £348 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Aylesbury?
For most leasehold sales in Aylesbury conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering conveyancing due diligence questions
- Where consent is required before sale in Aylesbury
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Are there frequently found problems that you witness in leases for Aylesbury properties?
There is nothing unique about leasehold conveyancing in Aylesbury. All leases are unique and legal mistakes in the legal wording can result in certain provisions are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the premises
- Insurance obligations
- 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 could encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Bank of Scotland, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.
Aylesbury Conveyancing for Leasehold Flats - Sample of Queries before buying
What is the the remaining lease term?
Most Aylesbury leasehold flats will incur a service bill for the upkeep of the building invoiced by the management company. If you purchase the flat you will have to meet this contribution, usually quarterly during the year. This may vary from a few hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a rentcharge to be met annual, this is usually not a large figure, say about £25-£75 but you need to check as sometimes it can be many hundreds of pounds.
Best to be warned whether window replacement or some other major work is coming up to be shared by the leaseholders and will materially increase the the maintenance charges or result in a specific payment.