Frequently asked questions relating to Grasmere leasehold conveyancing
I am intending to sublet my leasehold flat in Grasmere. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Your lease dictates relations between the freeholder and you the flat owner; specifically, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Grasmere do not prevent subletting altogether – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
Due to sign contracts shortly on a ground floor flat in Grasmere. Conveyancing lawyers have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Grasmere should include some of the following:
- You should be sent a copy of the lease
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Grasmere. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Grasmere ?
Most houses in Grasmere are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Grasmere in which case you should be looking for a Grasmere conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor should advise you fully on all the issues.
I am a negotiator for a busy estate agent office in Grasmere where we have witnessed a few flat sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Grasmere conveyancing firms. Please can you confirm whether the vendor of a flat can start the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Can you offer any advice when it comes to finding a Grasmere conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Grasmere conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Grasmere conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- How experienced is the firm with lease extension legislation?
Grasmere Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
You should want to find out as much as possible about the company managing the building as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to practical issues such as the upkeep of the common parts. Ask prospective neighbours if they are happy with them. Finally, find out the dates that you are obliged pay the service charge to the appropriate party and specifically what it includes.
Who are the managing agents?
Be sure to investigate if there are any onerous restrictions in the lease. For instance it is very common in Grasmere leases that pets are not allowed in certain buildings in Grasmere. If you love the apartmentin Grasmere yet your cat is not allowed to make the move with you then you will be faced difficult determination.