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Holt leasehold conveyancing: Q and A’s

My partner and I may need to let out our Holt basement flat temporarily due to a career opportunity. We used a Holt conveyancing practice in 2004 but they have since shut and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?

Notwithstanding that your previous Holt conveyancing lawyer is no longer around you can review your lease to see if you are permitted to let out the apartment. The accepted inference is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you need to obtain permission via your landlord or other appropriate person prior to subletting. This means you not allowed to sublet without first obtaining consent. Such consent must not not be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

I am hoping to complete next month on a basement flat in Holt. Conveyancing solicitors have said that they will have a report out to me next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Holt should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Does the lease prohibit wood flooring?
  • Will you be prohibited or prevented from having pets in the property?
  • Changes to the flat (alterations and additions)
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Holt please ask your lawyer in advance of your conveyancing in Holt

    • I have just appointed agents to market my basement apartment in Holt.Conveyancing lawyers have not yet been instructed but I have just had a quarterly maintenance charge invoice – 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 managing agents 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. This will smooth the conveyancing process.

    I am a negotiator for a reputable estate agency in Holt where we have experienced a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Holt conveyancing firms. Could you confirm whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

    As long as 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 need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

    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 buyer.

    What are your top tips when it comes to finding a Holt conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a conveyancer for lease extension works (regardless if they are a Holt conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Holt 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:

    • If they are not ALEP accredited then what is the reason?
  • Can they put you in touch with client in Holt who can give a testimonial?

    • Leasehold Conveyancing in Holt - A selection of Questions you should ask Prior to buying

      Generally speaking the outlay for major works are not built into the service charges, although a few managing agents in Holt require leasehold owners to contribute towards a sinking fund created for the specific intention of establishing a fund for larger repairs or maintenance. How is the lease structured? Does the lease include onerous restrictions?

    Other Topics

    Lease Extensions in Holt