Sample questions relating to Taplow leasehold conveyancing
I want to rent out my leasehold apartment in Taplow. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Notwithstanding that your previous Taplow conveyancing solicitor is no longer around you can review your lease to see if it allows you to sublet the premises. The accepted inference is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you must obtain permission via your landlord or some other party prior to subletting. The net result is you not allowed to sublet without first obtaining 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.
I’m about to sell my basement flat in Taplow.Conveyancing solicitors are to be appointed soon but I have just had a quarterly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge 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 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Taplow. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Taplow ?
The majority of houses in Taplow are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Taplow in which case you should be looking for a Taplow conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer will advise you fully on all the issues.
I am attracted to a two flats in Taplow both have about 50 years left on the leases. Will this present a problem?
There is no doubt about it. A leasehold apartment in Taplow is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. The majority of buyers and lenders, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 Taplow 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 any new 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.
Can you offer any advice when it comes to choosing a Taplow conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Taplow conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Taplow conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:
- How experienced is the firm with lease extension legislation?
Taplow Leasehold Conveyancing - Examples of Questions you should consider before Purchasing
Its a good idea to discover as much as possible regarding the company managing the building as they will affect your use and enjoyment of the property. As the owner of a leasehold property you are often in the clutches of the managing agents both financially and when it comes to daily matters such as the cleanliness of the common parts. Enquire of prospective neighbours what they think of them. In conclusion, find out the dates that the maintenance charges are due to the managing agents and precisely how they are spending that money.
The majority of Taplow leasehold flats will have a service bill for maintenance of the block levied on behalf of the management company. Should you buy the flat you will have to meet this amount, usually periodically accross the year. This could be anything from a couple of hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all probability there will be a ground rent for you to pay annual, this is usually not a significant sum, say about £50-£100 but you need to enquire it because sometimes it can be prohibitively expensive.
Generally speaking the outlay for major works tend not to be wrapped into the service charges, although there some managing agents in Taplow require tenants to contribute towards a sinking fund and this is used to offset against larger repairs or maintenance.