Questions and Answers: Henbury leasehold conveyancing
I want to rent out my leasehold apartment in Henbury. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A small minority of properties in Henbury do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold 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 permission.
Due to exchange soon on a garden flat in Henbury. Conveyancing lawyers inform me that they report fully tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Henbury should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Henbury. Conveyancing advisers have are about to be appointed. Will they explain the issues?
Most houses in Henbury 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 clear that you are buying in Henbury in which case you should be shopping around for a Henbury conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will appraise you on the various issues.
I am a negotiator for a reputable estate agent office in Henbury where we see a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local Henbury conveyancing firms. Could you clarify whether the owner of a flat can start the lease extension process 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 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.
Alternatively, it may be possible 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 your top tips when it comes to appointing a Henbury conveyancing practice to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Henbury conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Henbury conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How many lease extensions have they conducted in Henbury in the last year?
Henbury Leasehold Conveyancing - Examples of Queries before buying
-
It is important to be aware whether redecorating or some other significant cost is pending to be shared amongst the leaseholders and will dramatically impact the level of the maintenance costs or necessitate a specific payment.
Is there a share of the freehold?
How much is the yearly maintenance fee and ground rent?
Other Topics