Locksbottom leasehold conveyancing Example Support Desk Enquiries
My wife and I may need to let out our Locksbottom garden flat temporarily due to a new job. We used a Locksbottom conveyancing firm in 2004 but they have since shut and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?
Even though your previous Locksbottom conveyancing lawyer is no longer available you can check your lease to see if you are permitted to let out the apartment. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you need to seek consent from your landlord or some other party prior to subletting. The net result is that you cannot sublet in the absence of first obtaining consent. The consent is not allowed to be unreasonably withheld. If the lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.
I have just appointed agents to market my 2 bed apartment in Locksbottom.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am tempted by the attractive purchase price for a couple of maisonettes in Locksbottom both have approximately forty five years left on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Locksbottom. The lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the saleability of the lease reduces and results in it becoming more costly to extend the lease. This is why it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena
I work for a reputable estate agency in Locksbottom where we see a number of leasehold sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Locksbottom conveyancing firms. Can you confirm whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence 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 has to be done before, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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.
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Locksbottom. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We can put you in touch with a Locksbottom conveyancing firm who can help.
An example of a Lease Extension case for a Locksbottom 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.
In relation to leasehold conveyancing in Locksbottom what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Locksbottom. Most leases is drafted differently and drafting errors can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the building
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
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. Barclays , Norwich and Peterborough Building Society, and Clydesdale all have very detailed 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 grant the mortgage, forcing the buyer to withdraw.