Harry (my fiance) and I may need to sub-let our Henley In Arden basement flat for a while due to taking a sabbatical. We instructed a Henley In Arden conveyancing firm in 2002 but they have closed and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Your lease dictates relations between the freeholder and you the flat owner; in particular, it will set out 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 permitted. Most leases in Henley In Arden do not contain strict prohibition on subletting – such a clause would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

Due to sign contracts shortly on a basement flat in Henley In Arden. Conveyancing solicitors inform me that they report fully within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Henley In Arden should include some of the following:

• The total extent of the demise. This will be the apartment itself but may incorporate a loft or basement if appropriate.

I have just started marketing my 2 bed flat in Henley In Arden.Conveyancing has not commenced but I have just received a quarterly service charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay 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 hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Henley In Arden. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

The majority of houses in Henley In Arden 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. It is clear that you are buying in Henley In Arden so you should seriously consider shopping around for a Henley In Arden conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your solicitor should advise you fully on all the issues.

What are the common defects that you see in leases for Henley In Arden properties?

There is nothing unique about leasehold conveyancing in Henley In Arden. All leases are unique and legal mistakes in the legal wording can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the premises
• 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

You may 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. Birmingham Midshires, Bank of Scotland, and Britannia 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 defective they may refuse to grant the mortgage, obliging the buyer to withdraw.

Henley In Arden Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying

Its a good idea to discover as much as possible about the company managing the building as they can either make living at the property much easier or uncomfortable. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to every day issues like the upkeep of the communal areas. You should not be afraid to ask prospective neighbours what they think of their management. In conclusion, investigate as to the dates that the service charges are due to the managing agents and precisely what you get for your money. What is the name of the managing agents? Is anyone aware of any major works in the planning that will likely increase the service charges?

Other Topics

Lease Extensions in Henley In Arden