Recently asked questions relating to Great Barford leasehold conveyancing
I am in need of some leasehold conveyancing in Great Barford. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in Great Barford - then the leasehold title will always include the basic details 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 wish to sublet my leasehold flat in Great Barford. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Some leases for properties in Great Barford do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see 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.
Due to exchange soon on a ground floor flat in Great Barford. Conveyancing solicitors assured me that they will have a report out to me on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Great Barford should include some of the following:
- How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable price which is making it more attractive. I have subsequently found out that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Great Barford. Conveyancing advisers have are about to be appointed. Will they explain the issues?
Most houses in Great Barford are freehold and not 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 buying in Great Barford in which case you should be shopping around for a Great Barford conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your solicitor should advise you fully on all the issues.
When it comes to leasehold conveyancing in Great Barford what are the most common lease problems?
Leasehold conveyancing in Great Barford is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the building
- 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 can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Norwich and Peterborough Building Society, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.
Great Barford Leasehold Conveyancing - Examples of Questions you should consider before buying
Is the freehold owned collectively by the leaseholders?
How much is the yearly maintenance fee and ground rent?
How many of the leaseholders are in arrears for their maintenance charge payments?