I wish to rent out my leasehold flat in Iver. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

The lease dictates the relationship between the freeholder and you the leaseholder; specifically, it will say if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Iver do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

Looking forward to exchange soon on a basement flat in Iver. Conveyancing lawyers inform me that they will have a report out to me on Monday. What should I be looking out for?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Iver. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Iver ?

The majority of houses in Iver are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Iver so you should seriously consider shopping around for a Iver conveyancing solicitor and be sure that they are used to dealing with 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 with the house. The lease comes with conditions for example obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your lawyer will report to you on the legal implications.

I've recently bought a leasehold house in Iver. Do I have any liability for 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. 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).

Despite our best endeavours, we have been unsuccessful in trying to purchase the freehold in Iver. Can the Leasehold Valuation Tribunal adjudicate on premiums?

if there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to judgment on the price payable.

An example of a Freehold Enfranchisement matter before the tribunal for a Iver flat is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case was in relation to 2 flats. The the unexpired residue of the current lease was 69 years.

What are the frequently found problems that you come across in leases for Iver properties?

Leasehold conveyancing in Iver is not unique. All leases are individual and drafting errors can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Chelsea Building Society, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

Other Topics

Lease Extensions in Iver