Sample questions relating to Mayfield leasehold conveyancing
I wish to sublet my leasehold flat in Mayfield. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Some leases for properties in Mayfield do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience dictates 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 Seventy years left on my flat in Mayfield. I need to get lease extension but my landlord is absent. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the freeholder. On the whole an enquiry agent may be useful to try and locate and prepare an expert document which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Mayfield.
I've found a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Mayfield. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?
Most houses in Mayfield are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Mayfield so you should seriously consider looking for a Mayfield conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer should report to you on the legal implications.
I am tempted by the attractive purchase price for a couple of apartments in Mayfield both have about forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the saleability of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea 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 extension can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena
Do you have any advice for leasehold conveyancing in Mayfield from the perspective of expediting the sale process?
- Much of the delay in leasehold conveyancing in Mayfield can be reduced where you appoint lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the buyers lawyers.
- Many freeholders or Management Companies in Mayfield charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Mayfield.
Leasehold Conveyancing in Mayfield - Sample of Questions you should ask Prior to buying
Be sure to investigate if there is anything that is prohibited in the lease. For example it is fairly common in Mayfield leases that pets are not permitted in certain buildings in Mayfield. If you like the propertyin Mayfield but your dog is not allowed to make the move with you then you will be presented with a difficult choice.
Please note that where the lease has less than 80 years it will affect the value of the flat. It is worth checking with your mortgage company that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and you need to have some idea of how much this would cost. For most Mayfieldlease extensions you would need to own the residence for a couple of years in order to be eligible to extend the lease.
Its a good idea to discover as much as possible regarding the managing agents as they can either make life much simpler or problematic. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to day to day issues such as the upkeep of the common parts. You should not be shy to ask other tenants if they are happy with them. In conclusion, investigate as to the dates that the service charges are due to the relevant party and specifically what it includes.