Top Five Questions relating to Denton leasehold conveyancing
I would like to sublet my leasehold flat in Denton. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A small minority of properties in Denton do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
Estate agents have just been given the go-ahead to market my ground floor flat in Denton.Conveyancing has not commenced but I have just received a half-yearly service charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should 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 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 today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Denton. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
Most houses in Denton are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Denton so you should seriously consider shopping around for a Denton conveyancing practitioner and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should report to you on the legal implications.
I am tempted by the attractive purchase price for a couple of flats in Denton which have about forty five years remaining on the lease term. Do I need to be concerned?
There are plenty of short leases in Denton. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the value of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena
Do you have any advice for leasehold conveyancing in Denton from the point of view of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Denton can be bypassed where you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the purchasers’ solicitors.
- A minority of Denton leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
Denton Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
Who manages the block?
Does the lease contain onerous restrictions?
Many Denton leasehold properties will be liable to pay a service bill for the upkeep of the block levied by the landlord. Should you purchase the apartment you will have to meet this liability, normally periodically during the year. This can be anything from two or three hundred pounds to thousands of pounds for buildings with lifts and large communal areas. There will also be a rentcharge to be met annual, this is usually not a large amount, say about £25-£75 but you should to check as sometimes it could be many hundreds of pounds.