Common questions relating to Fleet leasehold conveyancing
I want to sublet my leasehold flat in Fleet. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
A lease governs the relationship between the landlord and you the leaseholder; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Fleet do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
Estate agents have just been given the go-ahead to market my basement flat in Fleet.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is clear the invoice 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 management companies 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 appears to be perfect, at a great price which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Fleet. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Fleet ?
Most houses in Fleet are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Fleet in which case you should be looking for a Fleet conveyancing practitioner and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your lawyer should appraise you on the various issues.
I am looking at a couple of maisonettes in Fleet both have approximately forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the saleability of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this field
What are your top tips when it comes to finding a Fleet conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Fleet conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Fleet conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- How many lease extensions has the firm conducted in Fleet in the last twenty four months?
Leasehold Conveyancing in Fleet - Examples of Queries before buying
The best form of lease arrangement is if the freehold reversion is owned by the leaseholders. In this arrangement the leaseholders enjoy being in charge if their destiny and although a managing agent is usually retained if the building is larger than a house conversion, the managing agent retained by the leaseholders.
You will want to find out as much as possible concerning the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to daily matters like the cleanliness of the communal areas. Enquire of other people what they think of their service. In conclusion, investigate as to the dates that the maintenance fees are due to the relevant party and specifically what you get for your money.
The majority of Fleet leasehold flats will incur a service charge for maintenance of the building invoiced on behalf of the landlord. If you purchase the property you will have to meet this liability, normally in instalments throughout the year. This may differ from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all probability there will be a rentcharge for you to pay annual, ordinarily this is not a exorbitant figure, say about £25-£75 but you should to check as occasionally it could be many hundreds of pounds.