Frequently asked questions relating to Swinton leasehold conveyancing
I am on look out for some leasehold conveyancing in Swinton. Before I get started I want to be sure as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Swinton - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
My fiance and I may need to let out our Swinton 1st floor flat temporarily due to taking a sabbatical. We instructed a Swinton 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 Swinton do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot 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 consent.
Estate agents have just been given the go-ahead to market my 2 bed apartment in Swinton.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge demand – should I leave it to the buyer to sort out?
It best that you pay the service charge 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 managing agents 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 Swinton which have in the region of forty five years remaining on the lease term. Will this present a problem?
There are plenty of short leases in Swinton. The lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area
Do you have any top tips for leasehold conveyancing in Swinton from the perspective of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Swinton can be reduced where you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation needed by the purchasers’ conveyancers.
- In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Swinton leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence from the Landlord approving such alterations. Should you dont have the consents to hand you should not communicate with the landlord without contacting your lawyer first.
Swinton Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to buying
Many Swinton leasehold flats will incur a service charge for the upkeep of the block set on behalf of the freeholder. Where you purchase the flat you will have to meet this contribution, usually quarterly throughout the year. This can vary from a few hundred pounds to thousands of pounds for buildings with lifts and large common areas. In all likelihood there will be a ground rent for you to pay annual, this is usually not a large sum, say around £25-£75 but you need to check as sometimes it could be many hundreds of pounds.
Best to be warned whether redecorating or some other significant cost is due shortly to be shared between the tenants and will materially impact the level of the service charges or necessitate a specific invoice.
This question is useful as a) areas may result in problems for the block as the communal areas may start to deteriorate if services remain unpaid b) if the leasehold owners have an issue with the running of the building you will need to know about it