Recently asked questions relating to Frenchay Common leasehold conveyancing
My wife and I may need to rent out our Frenchay Common ground floor flat temporarily due to a new job. We instructed a Frenchay Common conveyancing firm in 2001 but they have since shut 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?
The lease governs the relationship between the landlord and you the leaseholder; in particular, it will set out 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 Frenchay Common do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
I only have Seventy years left on my lease in Frenchay Common. I now wish to extend my lease but my freeholder is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to locate the freeholder. For most situations an enquiry agent may be useful to conduct investigations and prepare an expert document which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Frenchay Common.
Due to complete next month on a garden flat in Frenchay Common. Conveyancing lawyers have said that they report fully within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Frenchay Common should include some of the following:
- Defining your rights in relation to the communal areas in the building.For instance, does the lease grant a right of way over an accessway or hallways?
I’m about to sell my basement apartment in Frenchay Common.Conveyancing has not commenced but I have just had a yearly maintenance charge invoice – Do I pay up?
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 until 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. Having a clear account will assist your cause and will leave you no worse off financially.
Are there frequently found deficiencies that you witness in leases for Frenchay Common properties?
Leasehold conveyancing in Frenchay Common is not unique. Most leases are individual and drafting errors can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You will encounter a problem 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, Virgin Money, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.
Frenchay Common Leasehold Conveyancing - A selection of Questions you should ask before Purchasing
The majority of Frenchay Common leasehold apartments will be liable to pay a service bill for the upkeep of the block invoiced on behalf of the management company. Should you buy the flat you will have to meet this contribution, usually periodically during the year. This can be anything from a couple of hundred pounds to thousands of pounds for buildings with lifts and large communal areas. There will also be a rentcharge to be met annual, this is usually not a exorbitant amount, say around £50-£100 but you should to check as sometimes it could be prohibitively expensive.
Make sure you discover if there is anything that is prohibited in the lease. By way of example plenty of leases prohibit pets being permitted in in a block in Frenchay Common. If you like the propertyin Frenchay Common however your dog can’t make the move with you then you have a very hard compromise.
Is there a share of the freehold?