My fiance and I may need to rent out our Stallingborough 1st floor flat for a while due to taking a sabbatical. We used a Stallingborough conveyancing firm in 2003 but they have closed and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?

A small minority of properties in Stallingborough do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse 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.

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

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 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.

I am tempted by the attractive purchase price for a couple of flats in Stallingborough which have approximately fifty years unexpired on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold flat in Stallingborough is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. For most buyers and banks, leases with under 75 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 property 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 Stallingborough 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

Last month I purchased a leasehold house in Stallingborough. Am I liable to pay service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).

Do you have any advice for leasehold conveyancing in Stallingborough with the intention of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Stallingborough can be bypassed if you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information needed by the purchasers’ lawyers.
• The majority landlords or Management Companies in Stallingborough levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Stallingborough.

Stallingborough Leasehold Conveyancing - A selection of Queries before Purchasing

This information is important as a) areas can result in problems for the block as the communal areas may start to deteriorate where services remain unpaid b) if the leasehold owners have an issue with the managing agents you will want to have all the details Is anyone aware of any major works in the near future that could increase the service costs? You will want to find out as much as possible regarding the managing agents as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to practical issues like the cleanliness of the communal areas. Enquire of other tenants whether they are happy with them. Finally, be sure you discover the dates that the maintenance charges are due to the relevant party and precisely how they are spending the funds.

Other Topics

Lease Extensions in Stallingborough