Experts for Leasehold Conveyancing in Lechlade

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Frequently asked questions relating to Lechlade leasehold conveyancing

My wife and I may need to let out our Lechlade garden flat temporarily due to a new job. We used a Lechlade conveyancing firm in 2003 but they have closed and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Lechlade do contain a provision to say that subletting is only allowed with permission. The landlord cannot 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 consent.

I have just started marketing my basement apartment in Lechlade.Conveyancing is yet to be initiated but I have just had a half-yearly service charge demand – Do I pay up?

It best that you pay the invoice 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 management companies will not acknowledge the buyer unless 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've found a house that seems to tick a lot of boxes, at a great price 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 buying a house with a leasehold title in Lechlade. Conveyancing advisers have not yet been appointed. Will they explain the issues?

The majority of houses in Lechlade are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Lechlade so you should seriously consider shopping around for a Lechlade conveyancing practitioner and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your solicitor should report to you on the legal implications.

Can you offer any advice when it comes to appointing a Lechlade conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a Lechlade conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Lechlade conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

  • How familiar is the practice with lease extension legislation?
  • Can they put you in touch with client in Lechlade who can give a testimonial?

    • Do you have any advice for leasehold conveyancing in Lechlade with the intention of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Lechlade can be avoided where you get in touch lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the purchasers’ lawyers.
    • A minority of Lechlade leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual 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 buyers or their solicitors.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to present the dispute as historic as opposed to unsettled.
  • If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share document. Arranging a re-issued share certificate can be a lengthy process and slows down many a Lechlade conveyancing transaction. Where a reissued share is necessary, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but you should verify this by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Leasehold Conveyancing in Lechlade - Examples of Queries before buying

      It is important to be aware whether window replacement or some other significant cost is anticipated that will be shared between the tenants and will dramatically increase the the maintenance fees or necessitate a specific invoice. How many of the leaseholders are in arrears for their service charge payments? Its a good idea to find out as much as you can regarding the managing agents as they can either make your life much easier or a lot more difficult. Being a leasehold owner you are frequently at the mercy of the managing agents from a financial perspective and when it comes to daily issues like the cleanliness of the communal areas. Enquire of other people what they think of them. Finally, be sure you discover the dates that you are obliged pay the maintenance charge to the managing agents and specifically what you get for your money.

    Other Topics

    Lease Extensions in Lechlade