Top Five Questions relating to Histon leasehold conveyancing
My partner and I may need to sub-let our Histon ground floor flat for a while due to a career opportunity. We instructed a Histon conveyancing practice in 2002 but they have since shut and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?
A lease governs relations between the freeholder and you the leaseholder; specifically, it will say if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Histon do not contain subletting altogether – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
Expecting to complete next month on a ground floor flat in Histon. Conveyancing lawyers have said that they report fully within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Histon should include some of the following:
- Defining your rights in relation to the communal areas in the building.By way of example, does the lease include a right of way over an accessway or staircase?
Last month I purchased a leasehold house in Histon. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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).
What are your top tips when it comes to appointing a Histon conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Histon conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Histon conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- What volume of lease extensions have they completed in Histon in the last year?
Completion in due on our sale of a £300000 apartment in Histon next week. The managing agents has quoted £324 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Histon?
For most leasehold sales in Histon conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-contract enquiries
- Where consent is required before sale in Histon
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Histon - Sample of Questions you should consider before buying
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The prefered form of lease arrangement is a share of the freehold. In this situation the tenants benefit from being in charge if their destiny and even though a managing agent is often employed where the building is larger than a house conversion, the managing agent retained by the leaseholders.
It would be prudent to find out as much as you can about the company managing the building as they can either make life much easier or problematic. As the owner of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to practical issues such as the upkeep of the communal areas. Don't be afraid to ask other people whether they are happy with them. Finally, find out the dates that you are obliged pay the maintenance charge to the relevant party and precisely how they are spending the funds.
This information is important as a) areas may cause problems in the block as the common areas may start to deteriorate if repairs remain unpaid b) if the tenants have an issue with the managing agents you will need to have complete disclosure
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