I would like to sublet my leasehold apartment in Market Weighton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Even though your last Market Weighton conveyancing lawyer is no longer available you can review your lease to check if you are permitted to let out the apartment. The rule is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you need to seek permission via your landlord or other appropriate person prior to subletting. This means that you cannot sublet without prior consent. Such consent is not allowed to be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord for their consent.

Estate agents have just been given the go-ahead to market my basement flat in Market Weighton.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am tempted by the attractive purchase price for a two apartments in Market Weighton both have in the region of fifty years unexpired on the lease term. Will this present a problem?

A lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the value of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this area

I've recently bought a leasehold flat in Market Weighton. 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 lessee 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).

I am employed by a reputable estate agent office in Market Weighton where we have witnessed a few flat sales jeopardised due to short leases. I have received conflicting advice from local Market Weighton conveyancing firms. Please can you confirm whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence 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 needs to be completed before, or at the same time as completion of the disposal of the property.

An alternative approach is 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.

Market Weighton Leasehold Conveyancing - A selection of Queries Prior to Purchasing

Best to be warned whether changing the roof or some other significant cost is coming up to be shared by the leasehold owners and could well dramatically impact the level of the maintenance charges or necessitate a specific invoice. The answer will be useful as a) areas could result in problems in the building as the common areas may begin to deteriorate if repairs are not paid for b) if the leasehold owners have a dispute with the managing agents you will need to have complete disclosure Who takes responsibility for maintaining and repairing the block?

Other Topics

Lease Extensions in Market Weighton