I would like to let out my leasehold flat in Tavistock. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

A small minority of properties in Tavistock 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 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.

I've found a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Tavistock. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

The majority of houses in Tavistock are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Tavistock so you should seriously consider looking for a Tavistock conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your solicitor should report to you on the legal implications.

I am tempted by the attractive purchase price for a two flats in Tavistock which have about forty five years unexpired on the leases. Will this present a problem?

There are plenty of short leases in Tavistock. The lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this arena

I've recently bought a leasehold house in Tavistock. Do I have any liability for service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee 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 encounter in leases for Tavistock properties?

There is nothing unique about leasehold conveyancing in Tavistock. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair 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

You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Barnsley Building Society, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.

Tavistock Conveyancing for Leasehold Flats - A selection of Queries before Purchasing

The best form of lease arrangement is if the freehold interest is in the ownership of the leaseholders. In this arrangement the lessees enjoy control and even though a managing agent is often retained if it is bigger than a house conversion, the managing agent acts for the leaseholders themselves. It would be prudent to find out as much as possible regarding the company managing the building as they will either make your life much simpler or uncomfortable. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to practical matters such as the tidiness of the communal areas. You should not be afraid to ask other tenants what they think of them. Finally, find out the dates that you are obliged pay the maintenance charge to the managing agents and precisely what it includes. Best to be warned whether redecorating or some other major work is coming up that will be shared amongst the leasehold owners and may well materially increase the the service fees or necessitate a specific payment.

Other Topics

Lease Extensions in Tavistock