Bartley Green leasehold conveyancing: Q and A’s
I am intending to let out my leasehold apartment in Bartley Green. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Some leases for properties in Bartley Green 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 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 am hoping to complete next month on a ground floor flat in Bartley Green. Conveyancing solicitors inform me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Bartley Green should include some of the following:
- You should receive a copy of the lease
I am looking at a couple of maisonettes in Bartley Green both have about fifty years left on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Bartley Green. The lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the marketability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area
Can you provide any advice for leasehold conveyancing in Bartley Green with the purpose of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Bartley Green can be bypassed if you instruct lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information which will be required by the buyers conveyancers.
- In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Bartley Green leases often stipulate that internal structural alterations or addition of wooden flooring require a licence from the Landlord acquiescing to such alterations. Should you dont have the approvals in place do not contact the landlord without contacting your conveyancer in advance.
What makes a Bartley Green lease problematic?
There is nothing unique about leasehold conveyancing in Bartley Green. All leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the building
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Skipton Building Society, and Platform Home Loans 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 defective they may refuse to grant the mortgage, forcing the purchaser to pull out.
Leasehold Conveyancing in Bartley Green - Examples of Queries before Purchasing
It is important to be aware whether changing the roof or some other major work is due shortly that will be shared amongst the leaseholders and will materially impact the level of the maintenance charges or necessitate a specific invoice.
It would be prudent to investigate if there are any onerous restrictions in the lease. For instance it is very common in Bartley Green leases that pets are not allowed in certain buildings in Bartley Green. If you love the apartmentin Bartley Green but your cat can’t move with you then you have a very difficult compromise.
Who are the managing agents?