Recently asked questions relating to Bideford leasehold conveyancing
My partner and I may need to sub-let our Bideford ground floor flat for a while due to a career opportunity. We used a Bideford conveyancing firm in 2002 but they have closed and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
A small minority of properties in Bideford do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold 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 own a leasehold house in Bideford. Conveyancing and Barnsley Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Bideford who acted for me is not around.Any advice?
The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Bideford conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What are your top tips when it comes to appointing a Bideford conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Bideford conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Bideford conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How experienced is the firm with lease extension legislation?
Can you provide any top tips for leasehold conveyancing in Bideford with the purpose of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Bideford can be bypassed where you get in touch lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ representatives.
- Many freeholders or managing agents in Bideford charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Bideford.
What makes a Bideford lease defective?
There is nothing unique about leasehold conveyancing in Bideford. Most leases are unique and drafting errors can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the premises
- 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. Lloyds TSB Bank, Skipton Building Society, and Britannia all have express 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 grant the mortgage, obliging the buyer to pull out.
Leasehold Conveyancing in Bideford - Examples of Questions you should ask before Purchasing
Please note that where the lease has less than eighty years it will have adverse implications on the marketability of the flat. It is worth checking with your lender that they are happy with the length of the lease. A short lease means that you will probably need a lease extension sooner rather than later and it is worth finding out what this would cost. Remember, in most cases you will be required to have owned the premises for 24 months before you are eligible to carry out a lease extension.
How much is the annual service fee and ground rent?
What restrictions are there in the Bideford Lease?