Common questions relating to Lyndhurst leasehold conveyancing
I am intending to let out my leasehold flat in Lyndhurst. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Even though your previous Lyndhurst conveyancing lawyer is not around you can review your lease to see if you are permitted to let out the property. The accepted inference is that if the lease is silent, subletting is permitted. There may be a precondition that you must obtain permission from your landlord or other appropriate person in advance of subletting. This means that you cannot sublet without first obtaining consent. Such consent must not not be unreasonably refused ore delayed. If the lease prohibits you from letting out the property you should ask your landlord for their consent.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Lyndhurst. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Lyndhurst ?
The majority of houses in Lyndhurst are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Lyndhurst in which case you should be shopping around for a Lyndhurst conveyancing practitioner and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your lawyer will report to you on the legal implications.
Last month I purchased a leasehold house in Lyndhurst. Am I liable to pay service charges for periods before completion of my purchase?
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. 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).
I am a negotiator for a busy estate agency in Lyndhurst where we see a few flat sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Lyndhurst conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is 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.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £350000 garden flat in Lyndhurst in six days. The management company has quoted £360 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Lyndhurst?
For most leasehold sales in Lyndhurst conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering conveyancing due diligence questions
- Where consent is required before sale in Lyndhurst
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Lyndhurst Leasehold Conveyancing - A selection of Queries before Purchasing
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Who are the managing agents?
Be sure to find out if there is anything that is prohibited in the lease. By way of example it is very common in Lyndhurst leases that pets are not allowed in certain buildings in Lyndhurst. If you like the apartmentin Lyndhurst but your dog can’t live with you then you will be presented with a hard determination.
Please note that where the lease has fewer than 80 years it will have adverse implications on the marketability of the flat. It is worth checking with your bank that they are willing to lend given the lease term. A short lease means that you will most likely need a lease extension at some point and you need to have some idea of how much this will be. Remember, in most cases you would be required to have been the owner of the premises for a couple of years in order to be eligible to extend the lease.
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