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

Some leases for properties in Stotfold 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 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 62 years remaining on my flat in Stotfold. I am keen to get lease extension but my landlord is can not be found. What should I do?

If you qualify, 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 enable the lease to be extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to track down the freeholder. For most situations an enquiry agent would be helpful to conduct investigations and prepare a report to be used as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on investigating the landlord’s disappearance and the application to the County Court overseeing Stotfold.

I am attracted to a two maisonettes in Stotfold both have approximately forty five years left on the lease term. Will this present a problem?

There are plenty of short leases in Stotfold. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the value of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this field

I've recently bought a leasehold flat in Stotfold. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner 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. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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).

Are there frequently found defects that you come across in leases for Stotfold properties?

Leasehold conveyancing in Stotfold is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:

• 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.
• Maintenance charge proportions which don’t add up to the correct percentage

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. Nationwide Building Society, The Mortgage Works, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.

Stotfold Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing

Make sure you investigate if there are any onerous prohibitions in the lease. For instance plenty of leases prohibit pets being allowed in in a block in Stotfold. If you like the propertyin Stotfold yet your cat can’t live with you then you will be presented with a hard compromise. Who are the managing agents? Please tell me if there are any major works in the near future that will likely add a premium to the service costs?

Other Topics

Lease Extensions in Stotfold