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Recently asked questions relating to Long Eaton leasehold conveyancing

I wish to rent out my leasehold flat in Long Eaton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

A lease dictates the relationship between the freeholder and you the leaseholder; specifically, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Long Eaton do not contain strict prohibition on subletting – such a clause would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

Expecting to sign contracts shortly on a basement flat in Long Eaton. Conveyancing lawyers assured me that they are sending me a report within the next couple of days. What should I be looking out for?

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

  • The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Whether your lease has a provision for a sinking fund?
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • Responsibility for repairing the window frames For a comprehensive list of information to be included in your report on your leasehold property in Long Eaton please enquire of your lawyer in advance of your conveyancing in Long Eaton

    • My wife and I purchased a leasehold house in Long Eaton. Conveyancing and Birmingham Midshires mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Long Eaton who previously acted has long since retired.Do I pay?

    The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to instruct a Long Eaton conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I am employed by a long established estate agency in Long Eaton where we have witnessed a few flat sales derailed as a result of short leases. I have received inconsistent advice from local Long Eaton conveyancing solicitors. Can you confirm whether the seller of a flat can initiate the lease extension formalities for the buyer?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start 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 needs to be completed prior to, or at the same time as completion of the sale.

    Alternatively, it may be possible 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 purchaser.

    Can you provide any top tips for leasehold conveyancing in Long Eaton from the point of view of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Long Eaton can be avoided if you instruct lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ conveyancers.
    • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Long Eaton leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such works. Should you dont have the paperwork in place you should not communicate with the landlord without checking with your lawyer first.
  • A minority of Long Eaton 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 obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If you have had conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to unresolved.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is below 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Long Eaton Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to Purchasing

      How much is the service charge and ground rent on the property? Are any of leasehold owners in dispute over their service charge payments? It is important to be aware if fixing the lift or some other significant cost is pending that will be shared amongst the tenants and may well materially increase the the service fees or result in a specific invoice.

    Other Topics

    Lease Extensions in Long Eaton