Leasehold Conveyancing in Kimbolton - Get a Quote from the leasehold experts approved by your lender

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Examples of recent questions relating to leasehold conveyancing in Kimbolton

I wish to let out my leasehold apartment in Kimbolton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Notwithstanding that your previous Kimbolton conveyancing solicitor is no longer around you can review your lease to check if it allows you to sublet the premises. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you must seek permission via your landlord or some other party in advance of subletting. The net result is you not allowed to sublet in the absence of prior permission. Such consent is not allowed to be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

Looking forward to sign contracts shortly on a studio apartment in Kimbolton. Conveyancing lawyers have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • Responsibility for repairing the window frames
  • What options are open to you if a neighbour breach a clause of their lease? For a comprehensive list of information to be included in your report on your leasehold property in Kimbolton please ask your conveyancer in advance of your conveyancing in Kimbolton

    • I am looking at a two flats in Kimbolton both have in the region of 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?

    A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the marketability of the lease deteriorate and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area

    Can you provide any advice for leasehold conveyancing in Kimbolton from the point of view of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Kimbolton can be bypassed where you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information which will be required by the buyers solicitors.
    • The majority freeholders or Management Companies in Kimbolton levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Kimbolton.
  • If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Kimbolton state that internal structural changes or addition of wooden flooring require a licence issued by the Landlord consenting to such changes. Should you dont have the consents in place you should not communicate with the landlord without contacting your conveyancer in advance.
  • Some Kimbolton leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • You believe that you know the number of years remaining on your lease but you should double-check by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is less than 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • Are there frequently found problems that you encounter in leases for Kimbolton properties?

    There is nothing unique about leasehold conveyancing in Kimbolton. All leases are individual and legal mistakes in the legal wording can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    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. Lloyds TSB Bank, The Royal Bank of Scotland, and Bank of Ireland all have very detailed requirements 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 provide security, obliging the purchaser to pull out.

    Kimbolton Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying

      Are any of leasehold owners in dispute over their service charge payments? How is the lease structured? What prohibitions are contained in the Kimbolton Lease?

    Other Topics

    Lease Extensions in Kimbolton