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Recently asked questions relating to Stoke Park leasehold conveyancing

Frank (my husband) and I may need to rent out our Stoke Park 1st floor flat temporarily due to a new job. We used a Stoke Park conveyancing firm in 2003 but they have since shut and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your previous Stoke Park conveyancing solicitor is no longer around you can review your lease to check if you are permitted to let out the premises. The accepted inference is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you need to obtain consent from your landlord or some other party prior to subletting. This means that you cannot sublet without prior consent. The consent is not allowed to be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

Due to complete next month on a garden flat in Stoke Park. Conveyancing lawyers assured me that they report fully within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Stoke Park should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The total extent of the demise. This will be the apartment itself but might incorporate a loft or basement if appropriate.
  • Setting out your legal entitlements in relation to common areas in the building.For instance, does the lease contain a right of way over an accessway or hallways?
  • Does the lease prevent you from letting out the property, or having a home office for business
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • Responsibility for repairing the window frames
  • What you can do if a neighbour breach a clause of their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Stoke Park please ask your solicitor in advance of your conveyancing in Stoke Park

    • I've found a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Stoke Park. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

    Most houses in Stoke Park are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Stoke Park so you should seriously consider shopping around for a Stoke Park conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should report to you on the legal implications.

    I am looking at a couple of flats in Stoke Park which have approximately 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

    There is no doubt about it. A leasehold apartment in Stoke Park is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. For most buyers and banks, 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 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 Stoke Park 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 the agreed 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.

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

    • Much of the delay in leasehold conveyancing in Stoke Park can be reduced if you instruct lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information which will be required by the buyers representatives.
    • The majority landlords or managing agents in Stoke Park levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Stoke Park.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Stoke Park leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. Where you dont have the approvals in place you should not contact the landlord without contacting your conveyancer in advance.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to ongoing.
  • If you hold a share in a the Management Company, you should ensure that you hold the original share document. Organising a re-issued share certificate is often a time consuming formality and delays many a Stoke Park conveyancing transaction. Where a new share certificate is required, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.

    • Leasehold Conveyancing in Stoke Park - Examples of Questions you should ask before buying

      Does the lease have in excess of 90 years remaining? Who takes responsibility for maintaining and repairing the block? Can you inform me if there are any major works on the horizon that will likely increase the maintenance charges?

    Other Topics

    Lease Extensions in Stoke Park