Shaftesbury leasehold conveyancing: Q and A’s
My fiance and I may need to sub-let our Shaftesbury 1st floor flat temporarily due to a career opportunity. We instructed a Shaftesbury conveyancing firm in 2004 but they have since shut and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?
A small minority of properties in Shaftesbury 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 see 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.
Estate agents have just been given the go-ahead to market my basement apartment in Shaftesbury.Conveyancing lawyers have not yet been instructed but I have just received a quarterly maintenance charge demand – Do I pay up?
The sensible thing to do is discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I've found a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Shaftesbury. Conveyancing solicitors have are about to be appointed. Will they explain the issues?
Most houses in Shaftesbury are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Shaftesbury in which case you should be looking for a Shaftesbury conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your conveyancer will report to you on the legal implications.
Do you have any advice for leasehold conveyancing in Shaftesbury with the purpose of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Shaftesbury can be bypassed where you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ solicitors.
- If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Shaftesbury leases often stipulate that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord consenting to such changes. If you fail to have the approvals to hand do not contact the landlord without checking with your solicitor before hand.
All being well we will complete the sale of our £300000 flat in Shaftesbury next Wednesday . The landlords agents has quoted £312 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Shaftesbury?
Shaftesbury conveyancing on leasehold apartments normally results in administration charges invoiced by landlords agents :
- Answering pre-contract questions
- Where consent is required before sale in Shaftesbury
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Shaftesbury Leasehold Conveyancing - A selection of Questions you should consider Prior to buying
Please note if it is no more than eighty years it will affect the marketability of the flat. It is worth checking with your lender that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will most likely need a lease extension sooner rather than later and you need to have some idea of how much this would cost. For most Shaftesburylease extensions you would need to own the premises for a couple of years before you are eligible to carry out a lease extension.
How many years remain on the lease?
Is the freehold owned collectively by the leaseholders?