I would like to rent out my leasehold flat in Nailsworth. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

A small minority of properties in Nailsworth do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to 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 permission.

Planning to complete next month on a garden flat in Nailsworth. Conveyancing solicitors assured me that they are sending me a report on Monday. What should I be looking out for?

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

• Setting out your legal entitlements in relation to the communal areas in the block.For example, does the lease grant a right of way over a path or staircase?

Does the lease require carpeting throughout thus preventing wood flooring?

Does the lease prevent you from renting out the flat, or having a home office for business

You must be told what constitutes a Nuisance in the lease

The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.

What you can do if a neighbour is in violation of a provision in their lease?

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 Nailsworth please enquire of your solicitor in advance of your conveyancing in Nailsworth

I am looking at a couple of maisonettes in Nailsworth which have approximately 50 years left on the leases. Will this present a problem?

There is no doubt about it. A leasehold apartment in Nailsworth is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the salability of the property. The majority of buyers and banks, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Nailsworth conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Do you have any advice for leasehold conveyancing in Nailsworth from the point of view of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Nailsworth can be avoided where you instruct lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers lawyers.
• The majority freeholders or Management Companies in Nailsworth levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. 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 Nailsworth.

If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to ongoing.

If you are supposed to have a share in the freehold, you should make sure that you hold the original share document. Arranging a re-issued share certificate is often a lengthy process and delays many a Nailsworth home move. If a duplicate share certificate is needed, do contact the company officers or managing agents (where applicable) for this as soon as possible.

You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is below 75 years. In the circumstances it is essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

We expect to complete the sale of our £275000 flat in Nailsworth on Friday in a week. The landlords agents has quoted £360 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Nailsworth?

Nailsworth conveyancing on leasehold maisonettes nine out of ten times results in administration charges levied by managing agents :

• Answering pre-exchange enquiries
• Where consent is required before sale in Nailsworth
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Nailsworth leasehold premises is £350. For Nailsworth conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide the information.

Leasehold Conveyancing in Nailsworth - Examples of Queries before Purchasing

Many Nailsworth leasehold apartments will incur a service charge for maintenance of the block levied by the landlord. Where you buy the property you will have to meet this charge, usually periodically accross the year. This can differ from a few hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a rentcharge to be met annual, normally this is not a exorbitant sum, say approximately £25-£75 but you need to check as on occasion it can be many hundreds of pounds. Where a Nailsworth lease has fewer than eighty years it will affect the value of the apartment. It is worth checking with your lender that they are content with remaining years on the lease. Leases with less than 80 years remaining means that you will most likely have to extend the lease sooner rather than later and it is worth discovering what this will be. Remember, in most cases you would be required to have been the owner of the premises for 24 months in order to be entitled to extend the lease. Does the lease contain onerous restrictions?

Other Topics

Lease Extensions in Nailsworth