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Top Five Questions relating to Margate leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Margate. Before I get started I require certainty as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and most are in Margate - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I wish to sublet my leasehold apartment in Margate. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Even though your previous Margate conveyancing solicitor is no longer around you can check your lease to see if it allows you to sublet the property. The accepted inference is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you need to obtain permission from your landlord or other appropriate person in advance of subletting. The net result is you not allowed to sublet in the absence of prior permission. The consent should not be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord for their consent.

Due to sign contracts shortly on a basement flat in Margate. Conveyancing solicitors assured me that they report fully next week. What should I be looking out for?

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

  • Setting out your legal entitlements in relation to common areas in the block.E.G., does the lease permit a right of way over a path or staircase?
  • Repair and maintenance of the flat
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Margate please ask your lawyer in advance of your conveyancing in Margate

    • I've recently bought a leasehold flat in Margate. Am I liable to pay service charges relating to a period prior to my ownership?

    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 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).

    Can you provide any top tips for leasehold conveyancing in Margate with the intention of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Margate can be avoided where you instruct lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers solicitors.
    • If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Margate state that internal structural changes or installing wooden flooring require a licence issued by the Landlord consenting to such alterations. If you dont have the paperwork in place you should not contact the landlord without contacting your solicitor before hand.
  • Some Margate 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 financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the annual 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 solicitors.
  • If you hold a share in a the freehold, you should make sure that you are holding the original share document. Organising a new share certificate can be a time consuming process and delays many a Margate conveyancing transaction. Where a new share certificate is necessary, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but it would be advisable verify this by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • Leasehold Conveyancing in Margate - A selection of Queries Prior to Purchasing

      Who are the managing agents? The prefered form of lease arrangement is a share of the freehold. In this arrangement the lessees benefit from control and even though a managing agent is often retained where it is bigger than a house conversion, the managing agent employed by the leaseholders. If a Margate lease has fewer than eighty years it will affect the salability of the apartment. Check with your bank that they are content with the length of the lease. A short lease means that you will probably need a lease extension sooner rather than later and it is worth finding out what this will be. For most Margatelease extensions you will need to own the property for 24 months in order to be entitled to extend the lease.

    Other Topics

    Lease Extensions in Margate