Questions and Answers: Leigh On Sea leasehold conveyancing
Helen (my wife) and I may need to rent out our Leigh On Sea ground floor flat for a while due to a career opportunity. We used a Leigh On Sea conveyancing practice in 2003 but they have since shut and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?
Some leases for properties in Leigh On Sea do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience dictates 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've found a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have just found out that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Leigh On Sea. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Leigh On Sea ?
The majority of houses in Leigh On Sea are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Leigh On Sea so you should seriously consider shopping around for a Leigh On Sea conveyancing practitioner and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your solicitor should advise you fully on all the issues.
Can you provide any advice for leasehold conveyancing in Leigh On Sea with the aim of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Leigh On Sea can be avoided where you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ solicitors.
- In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Leigh On Sea state that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such works. If you fail to have the paperwork to hand do not contact the landlord without contacting your solicitor first.
If all goes to plan we aim to complete our sale of a £375000 garden flat in Leigh On Sea next Friday . The managing agents has quoted £300 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Leigh On Sea?
Leigh On Sea conveyancing on leasehold apartments more often than not necessitates the buyer’s solicitor submitting questions for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be willing to do so. They are at liberty levy a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The management information fee required by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, without which the invoice is not strictly payable. Reality however dictates that one has little option but to pay whatever is requested of you should you wish to sell the property.
What makes a Leigh On Sea lease unmortgageable?
Leasehold conveyancing in Leigh On Sea is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the premises
- Insurance obligations
- 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 primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Norwich and Peterborough Building Society, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.
Leigh On Sea Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing
Is there a share of the freehold?
The majority of Leigh On Sea leasehold apartments will have a service bill for maintenance of the block invoiced by the landlord. Where you acquire the flat you will have to meet this amount, usually in instalments throughout the year. This could vary from a couple of hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all probability there will be a rentcharge to be met annual, normally this is not a exorbitant figure, say about £25-£75 but you need to check as on occasion it can be prohibitively expensive.
Are there any major works in the near future that could add a premium to the service fees?