I wish to sublet my leasehold apartment in Ferryhill. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Your lease governs relations between the landlord and you the leaseholder; specifically, it will say if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Ferryhill do not prevent an absolute prevention of subletting – such a clause would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Ferryhill. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Ferryhill ?

Most houses in Ferryhill are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Ferryhill so you should seriously consider looking for a Ferryhill conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should report to you on the legal implications.

Can you provide any top tips for leasehold conveyancing in Ferryhill from the perspective of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Ferryhill can be reduced if you instruct lawyers the minute your agents start advertising the property and ask them to put together the leasehold information needed by the buyers conveyancers.
• In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Ferryhill leases often stipulate that internal structural changes or installing wooden flooring calls for a licence from the Landlord acquiescing to such changes. Where you dont have the approvals to hand do not communicate with the landlord without contacting your conveyancer in the first instance.

If you have had conflict with your landlord or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unresolved.

If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share certificate. Organising a duplicate share certificate can be a lengthy process and delays many a Ferryhill home move. If a duplicate share certificate is needed, do contact the company officers or managing agents (if applicable) for this at the earliest opportunity.

You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is under 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

All being well we will complete the sale of our £425000 garden flat in Ferryhill in just under a week. The landlords agents has quoted £360 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Ferryhill?

Ferryhill conveyancing on leasehold maisonettes ordinarily necessitates administration charges raised by managing agents :

• Completing pre-exchange questions
• Where consent is required before sale in Ferryhill
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Ferryhill leasehold property is £350. For Ferryhill conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply answers.

In relation to leasehold conveyancing in Ferryhill what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Ferryhill. All leases are unique and legal mistakes in the legal wording can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements 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

You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, The Royal Bank of Scotland, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.

Leasehold Conveyancing in Ferryhill - Examples of Questions you should consider before Purchasing

Does the lease have onerous restrictions? If a Ferryhill lease has no more than eighty years it will affect the salability of the apartment. It is worth checking with your lender that they are content with remaining years on the lease. A short lease means that you will most likely require a lease extension at some point and it is worth discovering what this will be. For most Ferryhilllease extensions you will need to own the premises for two years before you are eligible to exercise a lease extension. Its a good idea to discover as much as possible concerning the company managing the building as they will affect your use and enjoyment of the property. Being a leasehold owner you are frequently at the mercy of the managing agents from a financial perspective and when it comes to day to day issues such as the cleanliness of the common parts. Enquire of other tenants whether they are happy with them. On a final note, be sure you understand the dates that the maintenance charges are due to the managing agents and specifically what it includes.

Other Topics

Lease Extensions in Ferryhill