My wife and I may need to sub-let our Irchester 1st floor flat for a while due to a new job. We used a Irchester conveyancing practice in 2001 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?

Some leases for properties in Irchester do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to 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.

I’m about to sell my garden flat in Irchester.Conveyancing has not commenced but I have just had a half-yearly service charge invoice – should I leave it to the buyer to sort out?

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. Having a clear account will assist your cause and will leave you no worse off financially.

I am attracted to a two apartments in Irchester which have approximately 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Irchester is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the salability of the property. For most buyers and mortgage companies, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Irchester conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Last month I purchased a leasehold property in Irchester. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation 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. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

Can you provide any advice for leasehold conveyancing in Irchester from the perspective of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Irchester can be bypassed if you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information needed by the buyers solicitors.
• If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Irchester state that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord approving such alterations. If you fail to have the approvals in place do not contact the landlord without contacting your conveyancer before hand.

Irchester Leasehold Conveyancing - Sample of Questions you should consider before Purchasing

It would be sensible to discover if there are any onerous prohibitions in the lease. By way of example plenty of leases prohibit pets being permitted in in a block in Irchester. If you like the flatin Irchester however your cat is not allowed to make the move with you then you will be presented with a difficult determination. How long is the Lease? The prefered form of lease arrangement is a share of the freehold. In this arrangement the tenants benefit from control and notwithstanding that a managing agent is usually employed where the building is larger than a house conversion, the managing agent employed by the leaseholders.

Other Topics

Lease Extensions in Irchester