I wish to sublet my leasehold apartment in Bradley Stoke. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

A lease dictates the relationship between the landlord and you the flat owner; specifically, it will set out if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Bradley Stoke do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

I’m about to sell my garden flat in Bradley Stoke.Conveyancing has not commenced but I have just had a yearly maintenance charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should discharge the invoice 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 unless 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.

I've found a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Bradley Stoke. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Bradley Stoke ?

The majority of houses in Bradley Stoke are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Bradley Stoke in which case you should be looking for a Bradley Stoke conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should appraise you on the various issues.

I am employed by a long established estate agency in Bradley Stoke where we see a few flat sales jeopardised due to short leases. I have been given contradictory information from local Bradley Stoke conveyancing solicitors. Can you shed some light as to whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

In relation to leasehold conveyancing in Bradley Stoke what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Bradley Stoke. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the premises
• 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 primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Norwich and Peterborough Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.

Bradley Stoke Leasehold Conveyancing - Sample of Queries before buying

For many Bradley Stoke leaseholds the cost for major works are not wrapped into the service charges, although a few managing agents in Bradley Stoke require leaseholders to pay into a reserve fund and this is used to offset against major works. You should be aware that where the lease has fewer than 80 years it will affect the value of the flat. Check with your bank that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will probably have to extend the lease at some point and you need to have some idea of what this would cost. Remember, in most cases you would be required to have been the owner of the property for a couple of years before you are entitled to exercise a lease extension. Many Bradley Stoke leasehold properties will be liable to pay a service bill for the upkeep of the building levied on behalf of the freeholder. Where you purchase the flat you will have to meet this charge, usually periodically during the year. This can differ from a few hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a rentcharge for you to pay annual, this is usually not a large sum, say around £50-£100 but you should to enquire it because on occasion it could be surprisingly expensive.

Other Topics

Lease Extensions in Bradley Stoke