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

Some leases for properties in Shrivenham do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse 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 garden flat in Shrivenham.Conveyancing has not commenced but I have just received a yearly maintenance charge demand – Do I pay up?

It best that you clear 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 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. This will smooth the conveyancing process.

I work for a long established estate agent office in Shrivenham where we have experienced a few flat sales derailed as a result of short leases. I have been given contradictory information from local Shrivenham conveyancing firms. Could you shed some light as to whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that 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 buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done 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 sale of our £275000 flat in Shrivenham on Tuesday in a week. The managing agents has quoted £360 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Shrivenham?

Shrivenham conveyancing on leasehold flats often necessitates the buyer’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to do so. They are at liberty levy a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it exceeds £800. The administration charge levied by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, otherwise the charge is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to sell the property.

What makes a Shrivenham lease problematic?

There is nothing unique about leasehold conveyancing in Shrivenham. Most leases are unique and legal mistakes in the legal wording can result in certain provisions 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 property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You will have 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. Accord Mortgages Ltd, Barnsley Building Society, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.

Leasehold Conveyancing in Shrivenham - Examples of Questions you should ask Prior to buying

Most Shrivenham leasehold apartments will be liable to pay a service bill for the upkeep of the block levied on behalf of the landlord. Should you acquire the property you will have to pay this amount, normally quarterly accross the year. This may be anything from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. In all probability there will be a rentcharge to be met annual, ordinarily this is not a exorbitant amount, say around £50-£100 but you need to enquire as on occasion it can be surprisingly expensive. The best form of lease structure is a share of the freehold. In this arrangement the leaseholders benefit from control and even though a managing agent is often employed if it is larger than a house conversion, the managing agent is directed by the tenants. Where a Shrivenham lease has no more than 80 years it will impact the marketability of the flat. It is worth checking with your lender that they are happy with residual term of the lease. Leases with less than 80 years remaining means that you will probably have to extend the lease sooner rather than later and it is worth finding out how much this would cost. For most Shrivenhamlease extensions you would need to own the property for 24 months before you are entitled to exercise a lease extension.

Other Topics

Lease Extensions in Shrivenham