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

A small minority of properties in Shipley 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 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.

Due to sign contracts shortly on a garden flat in Shipley. Conveyancing solicitors assured me that they are sending me a report next week. What should I be looking out for?

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

• You should be sent a copy of the lease

Estate agents have just been given the go-ahead to market my 2 bed apartment in Shipley.Conveyancing is yet to be initiated but I have just had a yearly service charge demand – Do I pay up?

It best that you 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

Back In 2003, I bought a leasehold house in Shipley. Conveyancing and Halifax mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Shipley who acted for me is not around.Do I pay?

The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Shipley conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a two maisonettes in Shipley both have in the region of 50 years unexpired on the leases. should I be concerned?

There are no two ways about it. A leasehold apartment in Shipley is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. For most buyers and lenders, leases with under eighty years become less and less marketable. 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 a residence 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 Shipley 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new 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.

Shipley Leasehold Conveyancing - Examples of Queries before Purchasing

Is there a share of the freehold? The majority of Shipley leasehold properties will be liable to pay a service charge for the upkeep of the block set on behalf of the landlord. Where you purchase the flat you will have to meet this amount, normally in instalments accross the year. This could vary from a couple of hundred pounds to thousands of pounds for blocks with lifts and large common grounds. There will also be a ground rent to be met yearly, ordinarily this is not a significant figure, say approximately £25-£75 but you need to check as sometimes it could be many hundreds of pounds. You should want to discover as much as you can about the managing agents as they will either make your living at the property much easier or much more difficult. As the proprietor of a leasehold property you are often at the mercy of the managing agents from a financial perspective and when it comes to every day issues such as the cleanliness of the common parts. Don't be afraid to ask other people whether they are happy with them. In conclusion, investigate as to the dates that the service charges are due to the appropriate party and specifically what it includes.

Other Topics

Lease Extensions in Shipley