Cottenham leasehold conveyancing Example Support Desk Enquiries
Frank (my husband) and I may need to let out our Cottenham ground floor flat for a while due to a new job. We used a Cottenham conveyancing practice in 2001 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
Your lease governs relations between the freeholder and you the leaseholder; specifically, it will set out if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Cottenham do not contain subletting altogether – such a provision would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I have recently realised that I have Seventy years remaining on my flat in Cottenham. I now want to get lease extension but my landlord is can not be found. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to prove that you have done all that could be expected to locate the landlord. In some cases an enquiry agent may be helpful to carry out a search and prepare a report to be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the application to the County Court covering Cottenham.
Planning to sign contracts shortly on a leasehold property in Cottenham. Conveyancing lawyers have said that they report fully on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Cottenham should include some of the following:
- How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
I've recently bought a leasehold property in Cottenham. 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. It is an essential part 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).
I work for a busy estate agent office in Cottenham where we see a number of leasehold sales derailed as a result of short leases. I have received contradictory information from local Cottenham conveyancing firms. Can you confirm whether the seller of a flat can commence the lease extension process for the buyer?
As long as the seller has owned the lease 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. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord 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 purchaser.
Cottenham Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing
Generally speaking the cost for major works are not included within maintenance charges, although some managing agents in Cottenham ask tenants to pay into a reserve fund and this is used to offset against major repairs or maintenance.
Most Cottenham leasehold flats will have a service charge for maintenance of the building set on behalf of the freeholder. If you acquire the apartment you will have to meet this charge, usually quarterly accross the year. This can vary from a few hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. There will also be a rentcharge to be met yearly, this is usually not a large amount, say about £25-£75 but you should to check it because on occasion it could be many hundreds of pounds.
You should want to find out as much as you can concerning the managing agents as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to every day issues such as the tidiness of the communal areas. Don't be afraid to ask prospective neighbours what they think of them. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the appropriate party and specifically how they are spending that money.