Common questions relating to Bourne End leasehold conveyancing
My wife and I may need to let out our Bourne End ground floor flat temporarily due to a new job. We instructed a Bourne End conveyancing firm in 2003 but they have closed and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your previous Bourne End conveyancing solicitor is not available you can review your lease to see if it allows you to sublet the property. The accepted inference is that if the lease is non-specific, subletting is allowed. There may be a precondition that you must seek permission from your landlord or some other party before subletting. This means that you cannot sublet in the absence of first obtaining permission. The consent must not not be unreasonably refused ore delayed. If the lease prohibits you from letting out the property you will need to ask your landlord for their consent.
Expecting to complete next month on a leasehold property in Bourne End. Conveyancing lawyers assured me that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Bourne End should include some of the following:
- The total extent of the premises. This will be the property itself but could also incorporate a loft or basement if appropriate.
I have just started marketing my 2 bed apartment in Bourne End.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Can you provide any advice for leasehold conveyancing in Bourne End with the intention of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Bourne End can be bypassed if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers lawyers.
- The majority landlords or Management Companies in Bourne End charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Bourne End.
In relation to leasehold conveyancing in Bourne End what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Bourne End. All leases is drafted differently and drafting errors can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the building
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, The Mortgage Works, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.
Bourne End Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying
Best to be warned whether changing the roof or some other major work is anticipated that will be shared between the leaseholders and will dramatically increase the the maintenance fees or result in a specific invoice.
Does the lease contain onerous restrictions?
Who manages the building?