Sawston leasehold conveyancing: Q and A’s
I am on look out for some leasehold conveyancing in Sawston. Before diving in I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Sawston - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Harry (my fiance) and I may need to rent out our Sawston 1st floor flat temporarily due to a new job. We used a Sawston conveyancing practice in 2002 but they have since shut and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?
Notwithstanding that your last Sawston conveyancing solicitor is no longer available you can check your lease to check if you are permitted to let out the property. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you need to obtain consent from your landlord or some other party in advance of subletting. The net result is you not allowed to sublet without first obtaining consent. Such consent should not be unreasonably turned down. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
Can you provide any top tips for leasehold conveyancing in Sawston from the point of view of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Sawston can be avoided where you appoint lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the purchasers’ representatives.
- The majority freeholders or Management Companies in Sawston levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Sawston.
If all goes to plan we aim to complete our sale of a £475000 flat in Sawston in just under a week. The freeholder has quoted £300 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Sawston?
Sawston conveyancing on leasehold maisonettes usually necessitates fees being levied by landlords agents :
- Addressing pre-exchange enquiries
- Where consent is required before sale in Sawston
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
When it comes to leasehold conveyancing in Sawston what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Sawston. Most leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the premises
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Leeds Building Society, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.
Sawston Leasehold Conveyancing - Examples of Queries Prior to Purchasing
Are any of leasehold owners in dispute over their service charge payments?
On the whole the cost for major works are not built into the maintenance charges, albeit that a few managing agents in Sawston require leasehold owners to pay into a reserve fund and this is used to offset against larger repairs or maintenance.
This question is useful as a) areas could cause problems for the block as the communal areas may begin to deteriorate if services are not paid for b) if the tenants have a dispute with the managing agents you will wish to have full disclosure