Common questions relating to Frampton on Severn leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Frampton on Severn. Before diving in I would like to find out the number of years remaining on the lease.
Assuming the lease is registered - and 99.9% are in Frampton on Severn - 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 would like to sublet my leasehold flat in Frampton on Severn. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A lease dictates relations between the landlord and you the leaseholder; in particular, it will indicate if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Frampton on Severn do not prevent subletting altogether – such a clause would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
My wife and I purchased a leasehold flat in Frampton on Severn. Conveyancing and National Westminster Bank mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Frampton on Severn who acted for me is not around.Do I pay?
The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Frampton on Severn conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you provide any advice for leasehold conveyancing in Frampton on Severn with the aim of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Frampton on Severn can be avoided where you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives.
- Many freeholders or Management Companies in Frampton on Severn levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Frampton on Severn.
When it comes to leasehold conveyancing in Frampton on Severn what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Frampton on Severn. Most leases is drafted differently and drafting errors can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the building
- 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
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Virgin Money, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.
Frampton on Severn Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to Purchasing
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It is important to be aware whether changing the roof or some other major work is due shortly to be shared by the tenants and may well dramatically increase the the maintenance fees or necessitate a specific payment.
How much is the annual maintenance fee and ground rent?
Generally speaking the outlay for major works are not included within maintenance charges, although a few managing agents in Frampton on Severn obliged leaseholders to pay into a sinking fund created for the specific intention of establishing a fund for larger repairs or maintenance.
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