Common questions relating to Shirenewton leasehold conveyancing
Helen (my wife) and I may need to sub-let our Shirenewton garden flat temporarily due to a career opportunity. We used a Shirenewton conveyancing firm in 2001 but they have closed and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?
A small minority of properties in Shirenewton do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests 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 have just started marketing my garden flat in Shirenewton.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is pay the invoice 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 until 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 am hoping to put an offer on a small detached house that appears to be perfect, at a great price which is making it more attractive. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Shirenewton. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
The majority of houses in Shirenewton are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Shirenewton in which case you should be shopping around for a Shirenewton conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will appraise you on the various issues.
I am a negotiator for a busy estate agent office in Shirenewton where we have witnessed a number of leasehold sales derailed as a result of short leases. I have been given conflicting advice from local Shirenewton conveyancing solicitors. Could you shed some light as to whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £450000 maisonette in Shirenewton in just under a week. The freeholder has quoted £384 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Shirenewton?
Shirenewton conveyancing on leasehold maisonettes typically involves administration charges raised by freeholders :
- Addressing conveyancing due diligence enquiries
- Where consent is required before sale in Shirenewton
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Shirenewton Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing
-
It would be sensible to find out as much as you can concerning the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to day to day issues such as the tidiness of the communal areas. Don't be afraid to ask other people what they think of them. On a final note, investigate as to the dates that you are obliged pay the service charge to the relevant party and precisely how they are spending the funds.
Be sure to discover if there is anything that is prohibited in the lease. For instance it is very common in Shirenewton leases that pets are not allowed in certain buildings in Shirenewton. If you love the propertyin Shirenewton but your cat can’t make the move with you then you have a very difficult choice.
Is there a share of the freehold?
Other Topics