Frequently asked questions relating to Bideford leasehold conveyancing
My husband and I may need to rent out our Bideford basement flat temporarily due to a career opportunity. We used a Bideford conveyancing practice in 2004 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your previous Bideford conveyancing lawyer is not available you can check your lease to check if you are permitted to let out the property. The accepted inference is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you need to obtain consent via your landlord or some other party prior to subletting. This means that you cannot sublet without prior permission. Such consent should not be unreasonably turned down. If the lease prohibits you from subletting the property you should ask your landlord for their consent.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it all the more appealing. 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 Bideford. Conveyancing advisers have are soon to be appointed. Will they explain the issues?
The majority of houses in Bideford are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Bideford in which case you should be looking for a Bideford conveyancing practitioner and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your solicitor should report to you on the legal implications.
I am attracted to a couple of flats in Bideford which have approximately fifty years left on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a period of time. As the lease shortens the marketability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area
Can you provide any advice for leasehold conveyancing in Bideford with the aim of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Bideford can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the buyers conveyancers.
- In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Bideford leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord approving such works. If you dont have the paperwork in place you should not contact the landlord without checking with your lawyer in the first instance.
We expect to complete our sale of a £350000 maisonette in Bideford next week. The freeholder has quoted £372 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Bideford?
Bideford conveyancing on leasehold apartments normally results in administration charges levied by freeholders :
- Answering conveyancing due diligence enquiries
- Where consent is required before sale in Bideford
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Bideford Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to buying
It would be prudent to enquire if the the lease includes any onerous restrictions in the lease. For example it is fairly common in Bideford leases that pets are not allowed in certain buildings in Bideford. If you like the flatin Bideford however your dog is not allowed to make the move with you then you will be faced hard choice.
On the whole the outlay for major works tend not to be included within service charges, although there some managing agents in Bideford ask leaseholders to contribute towards a sinking fund and this is used to offset against major works.
You should be aware that where the lease has fewer than eighty years it will impact the value of the property. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will probably need a lease extension at some point and you need to have some idea of what this will be. For most Bidefordlease extensions you would be required to have been the owner of the residence for 24 months in order to be entitled to carry out a lease extension.