Questions and Answers: Hainault leasehold conveyancing
I would like to let out my leasehold apartment in Hainault. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
A lease governs relations between the landlord and you the flat owner; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Hainault do not contain strict prohibition on subletting – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
I am hoping to complete next month on a studio apartment in Hainault. Conveyancing solicitors have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Hainault should include some of the following:
- The total extent of the property. This will be the flat itself but might include a roof space or basement if applicable.
I've recently bought a leasehold flat in Hainault. 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. However, 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).
Do you have any top tips for leasehold conveyancing in Hainault from the perspective of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Hainault can be reduced where you get in touch lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the buyers solicitors.
- If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example installed wooden flooring? Hainault leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. Where you fail to have the paperwork in place do not contact the landlord without checking with your solicitor in the first instance.
I have had difficulty in seeking a lease extension in Hainault. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We are happy to put you in touch with a Hainault conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Hainault residence is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case affected 2 flats. The unexpired term was 69.26 years.
In relation to leasehold conveyancing in Hainault what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Hainault. All leases are individual and drafting errors can sometimes mean that certain clauses are wrong. 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 property
- Insurance obligations
- 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 as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Virgin Money, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the purchaser to pull out.