Experts for Leasehold Conveyancing in Quedgeley

When it comes to leasehold conveyancing in Quedgeley, you will need to chose a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Clydesdale , Yorkshire Building Society or NatWest make sure you choose a lawyer on their panel. Feel free to use our search tool

Quedgeley leasehold conveyancing: Q and A’s

Frank (my husband) and I may need to sub-let our Quedgeley 1st floor flat temporarily due to a new job. We used a Quedgeley conveyancing practice in 2001 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

A small minority of properties in Quedgeley do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold 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 am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Quedgeley. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Quedgeley ?

Most houses in Quedgeley are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Quedgeley so you should seriously consider looking for a Quedgeley conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer should advise you fully on all the issues.

I am attracted to a two flats in Quedgeley which have in the region of 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Quedgeley. The lease is a right to use the property for a period of time. As the lease gets shorter the value of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area

Last month I purchased a leasehold property in Quedgeley. 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 lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

Do you have any top tips for leasehold conveyancing in Quedgeley from the point of view of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Quedgeley can be avoided where you appoint lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers solicitors.
  • The majority landlords or managing agents in Quedgeley levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Quedgeley.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Quedgeley leases often stipulate that internal structural changes or addition of wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Should you dont have the consents in place you should not contact the landlord without checking with your conveyancer before hand.
  • A minority of Quedgeley leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is able to meet the yearly 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 lawyers.
  • If you hold a share in a the Management Company, you should make sure that you hold the original share document. Organising a replacement share certificate is often a lengthy formality and slows down many a Quedgeley home move. If a reissued share certificate is required, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later.

  • Quedgeley Leasehold Conveyancing - Examples of Questions you should consider Prior to buying

      The prefered form of lease arrangement is a share of the freehold. In this scenario the leaseholders benefit from control and although a managing agent is frequently retained if it is bigger than a house conversion, the managing agent is directed by the tenants. Generally speaking the outlay for major works are not included within service charges, albeit that there some managing agents in Quedgeley require tenants to contribute towards a reserve fund and this is used to offset against larger repairs or maintenance. Many Quedgeley leasehold flats will incur a service bill for maintenance of the block set by the freeholder. If you buy the property you will have to meet this amount, usually in instalments throughout the year. This may differ from several hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a ground rent to be met annual, ordinarily this is not a large figure, say approximately £50-£100 but you need to check as occasionally it can be prohibitively expensive.

    Other Topics

    Lease Extensions in Quedgeley