My partner and I may need to sub-let our Dunholme garden flat for a while due to taking a sabbatical. We instructed a Dunholme conveyancing firm in 2001 but they have closed and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?

Notwithstanding that your previous Dunholme conveyancing lawyer is not available you can review your lease to see if you are permitted to let out the property. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you need to obtain permission from your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet in the absence of first obtaining permission. The consent should not be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

I am hoping to complete next month on a garden flat in Dunholme. Conveyancing solicitors have said that they report fully on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Dunholme should include some of the following:

• You should receive a copy of the lease

My wife and I purchased a leasehold house in Dunholme. Conveyancing and Bank of Scotland mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Dunholme who acted for me is not around.Do I pay?

First contact HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a Dunholme conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of flats in Dunholme both have approximately forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Dunholme is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of buyers and lenders, leases with less than eighty years become less and less attractive. 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 a residence 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 Dunholme conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed 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.

What makes a Dunholme lease unmortgageable?

There is nothing unique about leasehold conveyancing in Dunholme. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, The Mortgage Works, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.

Dunholme Leasehold Conveyancing - Examples of Queries before Purchasing

In the main the outlay for major works tend not to be wrapped into the service charges, although there some managing agents in Dunholme obliged leasehold owners to contribute towards a sinking fund and this is used to offset against larger works. The prefered form of lease arrangement is a share of the freehold. In this arrangement the leaseholders enjoy being in charge if their destiny and although a managing agent is usually employed if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Make sure you investigate if there are any onerous restrictions in the lease. For instance it is very common in Dunholme leases that pets are not permitted in in a block in Dunholme. If you love the apartmentin Dunholme but your cat can’t move with you then you will be faced difficult choice.

Other Topics

Lease Extensions in Dunholme