I wish to rent out my leasehold apartment in Stony Stratford. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

A small minority of 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 review 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 permission.

There are only Seventy years unexpired on my flat in Stony Stratford. I need to get lease extension but my landlord is can not be found. What should I do?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you have used your best endeavours to locate the landlord. For most situations an enquiry agent should be helpful to carry out a search and prepare an expert document which can be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Stony Stratford.

I have just appointed agents to market my basement flat in Stony Stratford.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should 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 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.

If all goes to plan we aim to complete the sale of our £500000 apartment in Stony Stratford on Friday in a week. The freeholder has quoted £408 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Stony Stratford?

Stony Stratford conveyancing on leasehold apartments usually involves the buyer’s conveyancer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be content to assist. They are entitled invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some situations it is above £800. The management information fee levied by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is not strictly payable. In reality one has no option but to pay whatever is requested of you if you want to sell the property.

What are the frequently found problems that you come across in leases for Stony Stratford properties?

Leasehold conveyancing in Stony Stratford is not unique. All leases are unique and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the property
• 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 will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Virgin Money, and Bank of Ireland 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 withdraw.

Stony Stratford Leasehold Conveyancing - Examples of Queries Prior to Purchasing

Can you inform me if there are any major works in the near future that will increase the maintenance costs? Please note that where the lease has less than 80 years it will impact the marketability of the apartment. Check with your mortgage company that they are content with residual term of the lease. A short lease means that you will most likely have to extend the lease at some point and it is worth finding out what this would cost. Remember, in most cases you would be be obliged to have owned the property for a couple of years in order to be legally able to extend the lease. Who is in charge of the building?

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Lease Extensions in Stony Stratford