Common questions relating to Fenstanton leasehold conveyancing
Harry (my fiance) and I may need to sub-let our Fenstanton garden flat temporarily due to a career opportunity. We used a Fenstanton conveyancing practice in 2004 but they have closed and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
A small minority of properties in Fenstanton do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to see 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.
I've found a house that appears to be perfect, at a great figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Fenstanton. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
The majority of houses in Fenstanton are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Fenstanton so you should seriously consider shopping around for a Fenstanton conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your conveyancer will appraise you on the various issues.
I own a leasehold flat in Fenstanton. Conveyancing and TSB mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Fenstanton who previously acted has now retired.Any advice?
The first thing you should do is contact HMLR to make sure that this person is indeed the new freeholder. You do not need to instruct a Fenstanton conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am a negotiator for a long established estate agent office in Fenstanton where we see a number of flat sales jeopardised due to short leases. I have been given inconsistent advice from local Fenstanton conveyancing solicitors. Please can you clarify whether the owner of a flat can instigate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
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 buyer.
What advice can you give us when it comes to choosing a Fenstanton conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Fenstanton conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Fenstanton 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:
- If the firm is not ALEP accredited then what is the reason?
Fenstanton Leasehold Conveyancing - Examples of Questions you should consider before buying
It is important to be aware whether changing the roof or some other significant cost is coming up to be shared amongst the leaseholders and may well dramatically impact the level of the service fees or necessitate a specific invoice.
The best form of lease arrangement is where the freehold interest is in the ownership of the leaseholders. In this scenario the leaseholders have being in charge if their destiny and notwithstanding that a managing agent is often retained if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves.
Who is in charge of the building?