Examples of recent questions relating to leasehold conveyancing in Shirehampton
I am in need of some leasehold conveyancing in Shirehampton. Before I get started I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Shirehampton - then the leasehold title will always include the basic details 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.
I want to let out my leasehold flat in Shirehampton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Even though your previous Shirehampton conveyancing solicitor is not around you can review your lease to see if it allows you to sublet the premises. The accepted inference is that if the lease is non-specific, subletting is permitted. There may be a precondition that you need to obtain consent from your landlord or some other party prior to subletting. The net result is that you cannot sublet without prior permission. Such consent is not allowed to be unreasonably withheld. If your lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.
I've recently bought a leasehold house in Shirehampton. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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 ensure 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).
What are your top tips when it comes to finding a Shirehampton conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Shirehampton conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Shirehampton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:
- What volume of lease extensions has the firm carried out in Shirehampton in the last 12 months?
In relation to leasehold conveyancing in Shirehampton what are the most frequent lease defects?
Leasehold conveyancing in Shirehampton is not unique. Most leases are unique and drafting errors can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the premises
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Skipton Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.
Shirehampton Leasehold Conveyancing - Examples of Queries Prior to Purchasing
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Many Shirehampton leasehold properties will be liable to pay a service charge for maintenance of the block levied on behalf of the landlord. Should you buy the property you will have to pay this charge, usually periodically throughout the year. This can be anything from two or three hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a ground rent for you to pay yearly, this is usually not a significant amount, say around £50-£100 but you need to check as on occasion it could be many hundreds of pounds.
Its a good idea to find out as much as you can about the company managing the building as they can either make living at the property much easier or uncomfortable. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to daily matters like the upkeep of the common parts. Ask other tenants what they think of them. In conclusion, be sure you know the dates that you are obliged pay the maintenance charge to the managing agents and specifically what it includes.
The prefered form of lease structure is where the freehold reversion is owned by the leaseholders. In this arrangement the tenants benefit from control and even though a managing agent is frequently retained if it is bigger than a house conversion, the managing agent is directed by the tenants.
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