Examples of recent questions relating to leasehold conveyancing in Aldborough Hatch
Frank (my husband) and I may need to let out our Aldborough Hatch 1st floor flat temporarily due to a new job. We instructed a Aldborough Hatch conveyancing practice in 2001 but they have closed and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?
The lease dictates relations between the landlord and you the leaseholder; in particular, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Aldborough Hatch do not contain an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
Due to complete next month on a leasehold property in Aldborough Hatch. Conveyancing lawyers assured me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Aldborough Hatch should include some of the following:
- The total extent of the demise. This will be the flat itself but could also include a roof space or basement if applicable.
I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Aldborough Hatch. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
Most houses in Aldborough Hatch are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Aldborough Hatch so you should seriously consider shopping around for a Aldborough Hatch conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free 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 maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor should appraise you on the various issues.
I am looking at a couple of flats in Aldborough Hatch both have in the region of forty five years remaining on the lease term. Do I need to be concerned?
A lease is a right to use the premises for a period of time. As the lease shortens the marketability of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this field
Last month I purchased a leasehold flat in Aldborough Hatch. 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).
After months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Aldborough Hatch. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We are happy to put you in touch with a Aldborough Hatch conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Aldborough Hatch flat is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case affected 1 flat. The unexpired term was 61.36 years.