Recently asked questions relating to Prestbury leasehold conveyancing
My husband and I may need to let out our Prestbury 1st floor flat temporarily due to a career opportunity. We used a Prestbury conveyancing firm in 2001 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
Some leases for properties in Prestbury do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold 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.
Looking forward to sign contracts shortly on a studio apartment in Prestbury. Conveyancing lawyers have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Prestbury should include some of the following:
- The total extent of the property. This will be the flat itself but may include a loft or basement if appropriate.
I've found a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Prestbury. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
Most houses in Prestbury are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Prestbury so you should seriously consider looking for a Prestbury conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your lawyer will advise you fully on all the issues.
I am a negotiator for a reputable estate agent office in Prestbury where we have experienced a few leasehold sales put at risk due to short leases. I have received conflicting advice from local Prestbury conveyancing firms. Could you clarify whether the vendor of a flat can start the lease extension process 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means 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 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 Prestbury with the intention of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Prestbury can be avoided if you get in touch lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information needed by the buyers representatives.
- In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Prestbury state that internal structural alterations or laying down wooden flooring require a licence from the Landlord acquiescing to such alterations. If you dont have the approvals in place you should not communicate with the landlord without contacting your solicitor in advance.
Leasehold Conveyancing in Prestbury - Sample of Questions you should ask before Purchasing
For many Prestbury leaseholds the cost for major works are not wrapped into the maintenance charges, albeit that some managing agents in Prestbury require leasehold owners to pay into a sinking fund and this is used to offset against major repairs or maintenance.
It is important to be aware if fixing the lift or some other major work is anticipated that will be shared by the leaseholders and may well dramatically increase the the service costs or necessitate a one time payment.
Can you tell me if there are any major works in the near future that will increase the service fees?