Recently asked questions relating to High Wycombe leasehold conveyancing
I want to sublet my leasehold apartment in High Wycombe. 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 High Wycombe 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 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 permission.
Expecting to exchange soon on a leasehold property in High Wycombe. Conveyancing lawyers assured me that they report fully tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in High Wycombe should include some of the following:
- Whether the lease restricts you from subletting the flat, or working from home
I am looking at a couple of flats in High Wycombe both have approximately 50 years left on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in High Wycombe. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena
I've recently bought a leasehold flat in High Wycombe. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
If all goes to plan we aim to complete our sale of a £200000 apartment in High Wycombe next week. The management company has quoted £384 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in High Wycombe?
High Wycombe conveyancing on leasehold maisonettes normally necessitates administration charges raised by managing agents :
- Addressing pre-exchange enquiries
- Where consent is required before sale in High Wycombe
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
High Wycombe Leasehold Conveyancing - Sample of Queries before buying
What is the maintenance charge and ground rent on the flat?
You will want to find out as much as you can regarding the company managing the block as they can either make your living at the property much easier or much more difficult. As the owner of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to day to day issues such as the tidiness of the communal areas. Ask prospective neighbours if they are happy with them. Finally, be sure you understand the dates that the maintenance charges are due to the appropriate party and precisely what it includes.
What is the the remaining lease term?