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

Some leases for properties in Belmont do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse 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 am tempted by the attractive purchase price for a couple of apartments in Belmont which have about 50 years left on the leases. Do I need to be concerned?

There are plenty of short leases in Belmont. The lease is a legal document that entitles you 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 costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena

I've recently bought a leasehold property in Belmont. Do I have any liability for service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

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

• A significant proportion of the delay in leasehold conveyancing in Belmont can be avoided if you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the buyers representatives.
• Many landlords or Management Companies in Belmont charge for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Belmont.
• In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Belmont leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such changes. Where you fail to have the paperwork in place do not contact the landlord without checking with your conveyancer before hand.
• Some Belmont leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any 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 purchasers or their solicitors.
• If you are supposed to have a share in the freehold, you should make sure that you have the original share certificate. Obtaining a re-issued share certificate can be a lengthy formality and frustrates many a Belmont conveyancing transaction. If a reissued share is needed, you should approach the company officers or managing agents (if relevant) for this sooner rather than later.

Notwithstanding our best efforts, we have been unsuccessful in trying to purchase the freehold in Belmont. Can this matter be resolved via the Leasehold Valuation Tribunal?

Most definitely. We are happy to put you in touch with a Belmont conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Belmont residence is 197 Byron Road in March 2013. In relation to the value of the extended lease the tribunal concluded that the appropriate premium should be £19237 This case related to 1 flat. The unexpired lease term was 70.92 years.

What makes a Belmont lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Belmont. All leases is drafted differently and drafting errors can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations 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. Birmingham Midshires, Leeds Building Society, and Clydesdale all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the purchaser to withdraw.

Leasehold Conveyancing in Belmont - Examples of Questions you should ask Prior to Purchasing

Please inform me if there are any major works in the near future that could add a premium to the service costs? Are any of leasehold owners in arrears of their service charge payments?