Aperfield leasehold conveyancing Example Support Desk Enquiries
Frank (my husband) and I may need to let out our Aperfield garden flat for a while due to a new job. We used a Aperfield conveyancing practice in 2003 but they have closed and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Your lease governs relations between the landlord and you the leaseholder; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Aperfield do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
Planning to sign contracts shortly on a garden flat in Aperfield. Conveyancing solicitors assured me that they are sending me a report next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Aperfield should include some of the following:
- How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
- The total extent of the property. This will be the apartment itself but could also include a roof space or basement if appropriate.
- Ground rent - how much and when you need to pay, and also know whether this is subject to change
- Whether your lease has a provision for a sinking fund?
- Changes to the flat (alterations and additions)
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
I am looking at a couple of maisonettes in Aperfield both have about fifty years remaining on the lease term. Will this present a problem?
A lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more costly to extend the lease. For this reason it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this arena
I am employed by a busy estate agent office in Aperfield where we have witnessed a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Aperfield conveyancing firms. Can you clarify whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
What are your top tips when it comes to choosing a Aperfield conveyancing practice to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Aperfield conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Aperfield conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- How familiar is the practice with lease extension legislation?
- What are the legal fees for lease extension conveyancing?
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Aperfield conveyancing firm to represent me?
Most definitely. We are happy to put you in touch with a Aperfield conveyancing firm who can help.
An example of a Lease Extension decision for a Aperfield residence is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case related to 1 flat. The unexpired lease term was 50.57 years.
Aperfield Leasehold Conveyancing - A selection of Queries before buying
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Who are the managing agents?
It would be prudent to discover if the the lease includes any adverse restrictions in the lease. By way of example it is very common in Aperfield leases that pets are not allowed in certain buildings in Aperfield. If you love the flatin Aperfield but your dog can’t make the move with you then you will be faced hard compromise.
What is the annual maintenance fee and ground rent?