I would like to rent out my leasehold flat in Bradley Stoke. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Notwithstanding that your last Bradley Stoke conveyancing solicitor is no longer available you can check your lease to see if you are permitted to let out the property. The rule is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to obtain consent from your landlord or other appropriate person in advance of subletting. The net result is you not allowed to sublet without first obtaining permission. Such consent is not allowed to be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

Estate agents have just been given the go-ahead to market my ground floor apartment in Bradley Stoke.Conveyancing has not commenced but I have just had a quarterly maintenance charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay 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 managing agents 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 am looking at a two apartments in Bradley Stoke both have about 50 years remaining on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Bradley Stoke is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the premises. The majority of buyers and mortgage companies, leases with less than eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 premises 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 Bradley Stoke conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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.

Can you offer any advice when it comes to appointing a Bradley Stoke conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Bradley Stoke conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Bradley Stoke conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

• How many lease extensions has the firm completed in Bradley Stoke in the last year?

What are the charges for lease extension work?

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £175000 garden flat in Bradley Stoke on Monday in a week. The managing agents has quoted £312 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Bradley Stoke?

Bradley Stoke conveyancing on leasehold apartments nine out of ten times results in fees being raised by management companies :

• Completing conveyancing due diligence questions
• Where consent is required before sale in Bradley Stoke
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Bradley Stoke leasehold property is £350. For Bradley Stoke conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide the information.

Bradley Stoke Leasehold Conveyancing - Examples of Questions you should ask Prior to buying

It is important to be aware if a new roof is being put on or some other significant cost is anticipated that will be shared between the leasehold owners and will dramatically impact the level of the maintenance costs or necessitate a one time payment. Does the lease have in excess of 90 years unexpired? How many of the leaseholders are in arrears for their service charge payments?

Other Topics

Lease Extensions in Bradley Stoke