Leasehold Conveyancing in Cottenham Park - Get a Quote from the leasehold experts approved by your lender

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When it comes to leasehold conveyancing in Cottenham Park, you will need to appoint a conveyancing solicitor with leasehold experience. Whether your lender is to be Clydesdale , RBS or NatWest make sure you find a lawyer on their panel. Feel free to use our search tool

Cottenham Park leasehold conveyancing: Q and A’s

I am on look out for some leasehold conveyancing in Cottenham Park. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and most are in Cottenham Park - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I wish to rent out my leasehold flat in Cottenham Park. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Even though your last Cottenham Park conveyancing solicitor is not available you can check your lease to check if it allows you to sublet the apartment. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you need to obtain permission via your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet without first obtaining consent. The consent is not allowed to be unreasonably turned down. If the lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.

Due to complete next month on a garden flat in Cottenham Park. Conveyancing lawyers inform me that they report fully on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Cottenham Park should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The physical extent of the demise. This will be the flat itself but may incorporate a loft or basement if applicable.
  • Does the lease prevent you from letting out the property, or having a home office for business
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For details of the information to be contained in your report on your leasehold property in Cottenham Park please enquire of your lawyer in ahead of your conveyancing in Cottenham Park

    • I am a negotiator for a reputable estate agency in Cottenham Park where we have experienced a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Cottenham Park conveyancing firms. Can you clarify whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?

    Provided that 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. The benefit of this is that the proposed purchaser can avoid having 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 prior to, 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.

    What makes a Cottenham Park lease unmortgageable?

    There is nothing unique about leasehold conveyancing in Cottenham Park. All leases are individual and drafting errors can sometimes mean that certain provisions are wrong. 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 property
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause problems 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 Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.

    Cottenham Park Leasehold Conveyancing - Sample of Queries Prior to buying

      Best to be warned whether window replacement or some other significant cost is coming up to be shared between the leaseholders and may well dramatically increase the the service costs or result in a one time invoice. How much is the ground rent and service charge? What is the length of the lease?

    Other Topics

    Lease Extensions in Cottenham Park