Leasehold Conveyancing in Bulls Cross - Get a Quote from the leasehold experts approved by your lender

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Examples of recent questions relating to leasehold conveyancing in Bulls Cross

Jane (my partner) and I may need to let out our Bulls Cross 1st floor flat temporarily due to a new job. We used a Bulls Cross conveyancing firm in 2002 but they have since shut and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?

A small minority of properties in Bulls Cross do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see 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 consent.

Looking forward to complete next month on a leasehold property in Bulls Cross. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Bulls Cross should include some of the following:

  • How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The total extent of the premises. This will be the apartment itself but may include a loft or basement if applicable.
  • Setting out your legal entitlements in relation to the communal areas in the block.E.G., does the lease include a right of way over an accessway or hallways?
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • Will you be prohibited or prevented from having pets in the property?
  • You should have a good understanding of the insurance provisions For details of the information to be contained in your report on your leasehold property in Bulls Cross please ask your lawyer in advance of your conveyancing in Bulls Cross

  • Can you offer any advice when it comes to choosing a Bulls Cross conveyancing practice to carry out our lease extension conveyancing?

    If you are instructing a solicitor for your lease extension (regardless if they are a Bulls Cross conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Bulls Cross conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

    • How familiar is the practice with lease extension legislation?
  • If the firm is not ALEP accredited then what is the reason?

  • Do you have any top tips for leasehold conveyancing in Bulls Cross from the point of view of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Bulls Cross can be reduced if you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the buyers conveyancers.
    • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Bulls Cross state that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord approving such changes. Should you fail to have the consents in place you should not communicate with the landlord without contacting your lawyer before hand.
  • A minority of Bulls Cross 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. Any bank reference should make it clear that the buyer is able to meet the yearly 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 lawyers.
  • If you hold a share in a the freehold, you should ensure that you hold the original share certificate. Obtaining a duplicate share certificate is often a time consuming process and slows down many a Bulls Cross home move. Where a reissued share is required, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.
  • You believe that you know the number of years left on your lease but it would be advisable double-check by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is below 80 years. In the circumstances it is important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

  • I am the leaseholder of a two-bedroom flat in Bulls Cross. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?

    if there is a absentee landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to calculate the price payable.

    An example of a Lease Extension matter before the tribunal for a Bulls Cross flat is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case was in relation to 1 flat. The the unexpired term as at the valuation date was 81.79 years.

    When it comes to leasehold conveyancing in Bulls Cross what are the most frequent lease problems?

    There is nothing unique about leasehold conveyancing in Bulls Cross. Most leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the building
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, The Mortgage Works, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.