Recently asked questions relating to Harwich leasehold conveyancing
I wish to sublet my leasehold apartment in Harwich. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
The lease governs the relationship between the freeholder and you the flat owner; in particular, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Harwich do not contain an absolute prevention of subletting – such a clause would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
Planning to complete next month on a basement flat in Harwich. Conveyancing solicitors have said that they report fully on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Harwich should include some of the following:
- Does the lease prevent you from subletting the property, or working from home
Estate agents have just been given the go-ahead to market my 2 bed apartment in Harwich.Conveyancing has not commenced but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is clear the service charge 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 a negotiator for a busy estate agency in Harwich where we have experienced a few flat sales jeopardised due to short leases. I have received conflicting advice from local Harwich conveyancing solicitors. Can you confirm whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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 purchaser.
What are the frequently found defects that you encounter in leases for Harwich properties?
Leasehold conveyancing in Harwich is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
- 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
You could have 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. Accord Mortgages Ltd, Barnsley Building Society, and Britannia all have very detailed 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 purchaser to withdraw.
Leasehold Conveyancing in Harwich - Examples of Queries Prior to buying
Is there a share of the freehold?
Most Harwich leasehold properties will incur a service charge for maintenance of the block set by the management company. Should you acquire the property you will have to meet this charge, usually quarterly during the year. This may be anything from several hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. There will also be a ground rent for you to pay yearly, this is usually not a exorbitant figure, say approximately £50-£100 but you should to check it because sometimes it can be surprisingly expensive.
How much is the annual service fee and ground rent?