Questions and Answers: Bollington leasehold conveyancing
Jane (my partner) and I may need to sub-let our Bollington 1st floor flat for a while due to taking a sabbatical. We instructed a Bollington conveyancing firm in 2004 but they have closed and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?
Some leases for properties in Bollington do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold 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've found a house that appears to be perfect, at a great figure which is making it all the more appealing. I have just found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Bollington. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Bollington ?
The majority of houses in Bollington are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Bollington in which case you should be looking for a Bollington conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your solicitor should appraise you on the various issues.
Last month I purchased a leasehold property in Bollington. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What are your top tips when it comes to finding a Bollington conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Bollington conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Bollington conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- What volume of lease extensions has the firm carried out in Bollington in the last 12 months?
Can you provide any advice for leasehold conveyancing in Bollington from the point of view of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Bollington can be reduced if you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives.
- Many freeholders or managing agents in Bollington levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Bollington.
Leasehold Conveyancing in Bollington - A selection of Queries Prior to Purchasing
Its a good idea to discover as much as you can about the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to practical matters like the tidiness of the communal areas. Ask other tenants whether they are happy with them. Finally, find out the dates that you are obliged pay the service charge to the relevant party and precisely what you get for your money.
Please inform me if there are any major works in the planning that could increase the service costs?
This information is helpful as a) areas may cause problems for the building as the common areas may begin to deteriorate if services are not paid for b) if the tenants have a dispute with the managing agents you will wish to have complete disclosure