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

Some leases for properties in Gamlingay do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

Estate agents have just been given the go-ahead to market my basement apartment in Gamlingay.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should 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.

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently discovered that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Gamlingay. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Gamlingay ?

The majority of houses in Gamlingay are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Gamlingay in which case you should be looking for a Gamlingay conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your solicitor will appraise you on the various issues.

I am tempted by the attractive purchase price for a two maisonettes in Gamlingay which have approximately forty five years left on the leases. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a period of time. As a lease shortens the saleability of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field

What makes a Gamlingay lease problematic?

Leasehold conveyancing in Gamlingay is not unique. All leases are individual and drafting errors can sometimes mean that 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 premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Virgin Money, and TSB 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, obliging the buyer to withdraw.

Leasehold Conveyancing in Gamlingay - Examples of Queries Prior to buying

Who manages the block? How much is the ground rent and service charge? Please tell me if there are any major works in the planning that will likely increase the maintenance fees?

Other Topics

Lease Extensions in Gamlingay