Osidge leasehold conveyancing: Q and A’s
Jane (my partner) and I may need to sub-let our Osidge garden flat temporarily due to a career opportunity. We instructed a Osidge conveyancing firm in 2003 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Osidge do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold 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.
I've recently bought a leasehold property in Osidge. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
What are your top tips when it comes to appointing a Osidge conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Osidge conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Osidge conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- If they are not ALEP accredited then what is the reason?
Can you provide any top tips for leasehold conveyancing in Osidge with the aim of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Osidge can be avoided if you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the buyers conveyancers.
- The majority landlords or Management Companies in Osidge levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Osidge.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Osidge conveyancing firm to assist?
You certainly can. We can put you in touch with a Osidge conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Osidge flat is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case was in relation to 2 flats. The the unexpired residue of the current lease was 70.31 years.
What are the common defects that you encounter in leases for Osidge properties?
There is nothing unique about leasehold conveyancing in Osidge. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Coventry Building Society, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.