Recently asked questions relating to Lytchett Matravers leasehold conveyancing
Helen (my wife) and I may need to rent out our Lytchett Matravers 1st floor flat for a while due to a new job. We instructed a Lytchett Matravers conveyancing firm in 2002 but they have closed and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Lytchett Matravers do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience suggests 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 only have 62 years remaining on my lease in Lytchett Matravers. I now want to get lease extension but my freeholder is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to track down the landlord. For most situations a specialist should be helpful to try and locate and to produce a report to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Lytchett Matravers.
I am employed by a busy estate agency in Lytchett Matravers where we see a few leasehold sales put at risk due to short leases. I have been given conflicting advice from local Lytchett Matravers conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can commence the lease extension formalities 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. 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.
An alternative approach is 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 buyer.
Do you have any advice for leasehold conveyancing in Lytchett Matravers with the aim of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Lytchett Matravers can be avoided where you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the buyers conveyancers.
- Many freeholders or managing agents in Lytchett Matravers charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Lytchett Matravers.
What makes a Lytchett Matravers lease problematic?
Leasehold conveyancing in Lytchett Matravers is not unique. All leases are unique and drafting errors can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements 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
You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Norwich and Peterborough Building Society, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.
Lytchett Matravers Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing
Does the lease contain onerous restrictions?
It would be prudent to investigate if there is anything that is prohibited in the lease. For instance it is very common in Lytchett Matravers leases that pets are not allowed in in a block in Lytchett Matravers. If you like the apartmentin Lytchett Matravers yet your dog can’t make the move with you then you will be presented with a hard decision.
The majority of Lytchett Matravers leasehold apartments will incur a service bill for the upkeep of the building invoiced by the management company. Should you acquire the apartment you will have to meet this amount, usually in instalments accross the year. This can be anything from a few hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a rentcharge to be met yearly, normally this is not a large sum, say approximately £25-£75 but you should to check as occasionally it can be many hundreds of pounds.