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Leasehold conveyancing in Stony Stratford is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Stony Stratford and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Questions and Answers: Stony Stratford leasehold conveyancing

Harry (my fiance) and I may need to rent out our Stony Stratford ground floor flat for a while due to a new job. We used a Stony Stratford conveyancing practice in 2001 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease permits subletting. How do we find out?

Some leases for properties in Stony Stratford 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 see 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.

Looking forward to sign contracts shortly on a garden flat in Stony Stratford. Conveyancing solicitors inform me that they are sending me a report on Monday. What should I be looking out for?

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

  • Setting out your rights in respect of the communal areas in the building.For instance, does the lease provide for a right of way over a path or hallways?
  • You need to be told what counts as a Nuisance in the lease
  • You should have a good understanding of the insurance provisions
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Stony Stratford please enquire of your solicitor in ahead of your conveyancing in Stony Stratford

    • I am a negotiator for a busy estate agent office in Stony Stratford where we see a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Stony Stratford conveyancing solicitors. Please can you confirm whether the seller of a flat can commence the lease extension process for the buyer?

    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. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. 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.

    An alternative approach is to extend the lease informally by agreement with the landlord 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.

    What are your top tips when it comes to choosing a Stony Stratford conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a conveyancer for lease extension works (regardless if they are a Stony Stratford conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Stony Stratford conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

    • If the firm is not ALEP accredited then why not?
  • Can they put you in touch with client in Stony Stratford who can give a testimonial?

    • What makes a Stony Stratford lease problematic?

    Leasehold conveyancing in Stony Stratford is not unique. All leases is drafted differently and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the building
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Norwich and Peterborough Building Society, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to pull out.

    Stony Stratford Conveyancing for Leasehold Flats - Examples of Queries before buying

      Is anyone aware of any major works anticipated that will likely increase the service costs? The best form of lease arrangement is if the freehold title is in the ownership of the leaseholders. In this situation the tenants benefit from control and even though a managing agent is often retained if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. What prohibitions are there in the Stony Stratford Lease?

    Other Topics

    Lease Extensions in Stony Stratford