Common questions relating to Bishops Cleeve leasehold conveyancing
Helen (my wife) and I may need to sub-let our Bishops Cleeve 1st floor flat temporarily due to a new job. We instructed a Bishops Cleeve conveyancing firm in 2001 but they have since shut and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?
Some leases for properties in Bishops Cleeve do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to 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 have recently realised that I have 62 years remaining on my flat in Bishops Cleeve. I am keen to extend my lease but my freeholder is absent. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to locate the freeholder. On the whole a specialist should be useful to conduct investigations and to produce a report to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s absence and the application to the County Court overseeing Bishops Cleeve.
Planning to complete next month on a ground floor flat in Bishops Cleeve. Conveyancing solicitors inform me that they will have a report out to me tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Bishops Cleeve should include some of the following:
- You should be sent a copy of the lease
I own a leasehold house in Bishops Cleeve. Conveyancing and Accord Mortgages Ltd mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Bishops Cleeve who previously acted has long since retired.What should I do?
The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to instruct a Bishops Cleeve conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am attracted to a two apartments in Bishops Cleeve which have approximately forty five years remaining on the leases. should I be concerned?
There are no two ways about it. A leasehold apartment in Bishops Cleeve is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. The majority of purchasers and lenders, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Bishops Cleeve conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Bishops Cleeve Leasehold Conveyancing - Sample of Questions you should consider before Purchasing
Generally speaking the outlay for major works are not wrapped into the service charges, although a few managing agents in Bishops Cleeve obliged leaseholders to pay into a sinking fund created for the specific purpose of building a fund for larger works.
Best to be warned whether a new roof is being put on or some other significant cost is due shortly to be shared between the tenants and may well dramatically increase the the service charges or require a specific payment.
It would be prudent to discover as much as possible concerning the company managing the block as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to practical matters such as the tidiness of the communal areas. Ask prospective neighbours what they think of their service. Finally, investigate as to the dates that the service charges are due to the managing agents and specifically what it includes.