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Frequently asked questions relating to Fishponds leasehold conveyancing

I am on look out for some leasehold conveyancing in Fishponds. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is registered - and most are in Fishponds - 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 want to sublet my leasehold apartment in Fishponds. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

A lease dictates relations between the landlord and you the leaseholder; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Fishponds do not prevent subletting altogether – such a provision would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

Due to exchange soon on a garden flat in Fishponds. Conveyancing solicitors inform me that they report fully next week. What should I be looking out for?

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

  • You should be sent a copy of the lease
  • How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Does the lease prevent you from letting out the property, or having a home office for business
  • You must be told what counts as a Nuisance in the lease
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • What you can do if a neighbour breach a clause of their lease? For a comprehensive list of information to be included in your report on your leasehold property in Fishponds please enquire of your solicitor in advance of your conveyancing in Fishponds

    • I am looking at a couple of flats in Fishponds both have in the region of 50 years left on the lease term. Will this present a problem?

    There are plenty of short leases in Fishponds. The lease is a right to use the premises for a period of time. As a lease shortens the saleability of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field

    What advice can you give us when it comes to choosing a Fishponds conveyancing practice to carry out our lease extension conveyancing?

    When appointing a conveyancer for your lease extension (regardless if they are a Fishponds conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Fishponds conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

    • How familiar is the firm with lease extension legislation?
  • If they are not ALEP accredited then what is the reason?

    • Leasehold Conveyancing in Fishponds - Examples of Queries before Purchasing

      Most Fishponds leasehold flats will be liable to pay a service bill for maintenance of the building set on behalf of the management company. If you buy the apartment you will have to meet this contribution, normally periodically during the year. This may be anything from two or three hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. In all likelihood there will be a ground rent for you to pay yearly, ordinarily this is not a significant sum, say around £50-£100 but you need to check it because sometimes it can be many hundreds of pounds. It would be prudent to find out as much as possible regarding the managing agents as they will affect your use and enjoyment of the property. As the owner of a leasehold property you will be 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 people what they think of their management. On a final note, be sure you know the dates that you are obliged pay the service charge to the managing agents and precisely how they are spending the funds. How many of the leaseholders are in arrears for their service charge payments?

    Other Topics

    Lease Extensions in Fishponds