Recently asked questions relating to Hanslope leasehold conveyancing
I want to sublet my leasehold apartment in Hanslope. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Notwithstanding that your previous Hanslope conveyancing solicitor is no longer around you can check your lease to check if you are permitted to let out the apartment. The rule is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you must seek permission from your landlord or some other party prior to subletting. This means that you cannot sublet in the absence of prior permission. Such consent must not not be unreasonably turned down. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
Having checked my lease I have discovered that there are only 72 years remaining on my flat in Hanslope. I now want to get lease extension but my landlord is can not be found. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the landlord. In some cases a specialist would be useful to conduct investigations and to produce an expert document to be used as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer both on proving the landlord’s absence and the application to the County Court covering Hanslope.
Estate agents have just been given the go-ahead to market my 2 bed apartment in Hanslope.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is discharge 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 unless 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. This will smooth the conveyancing process.
Do you have any advice for leasehold conveyancing in Hanslope from the point of view of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Hanslope can be avoided where you appoint lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation needed by the buyers conveyancers.
- If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Hanslope leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence from the Landlord approving such alterations. Should you dont have the consents to hand you should not contact the landlord without contacting your conveyancer first.
What makes a Hanslope lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in Hanslope. All leases are unique and legal mistakes in the legal wording can result in certain clauses are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the premises
- A duty to insure the building
- 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. HSBC Bank, Bank of Scotland, and Aldermore all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.
Leasehold Conveyancing in Hanslope - Examples of Questions you should consider before Purchasing
The answer will be useful as a) areas could cause problems in the block as the communal areas may start to deteriorate where maintenance remain unpaid b) if the leaseholders have a dispute with the managing agents you will need to have all the details
The best form of lease arrangement is a share of the freehold. In this arrangement the leaseholders enjoy being in charge if their destiny and even though a managing agent is often employed where the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves.
You should be aware that where the lease has less than 80 years it will affect the marketability of the apartment. It is worth checking with your lender that they are willing to lend given the lease term. A short lease means that you will probably need a lease extension at some point and it is worth finding out what this will be. Remember, in most cases you would be required to have been the owner of the property for 24 months in order to be legally able to extend the lease.