Jane (my partner) and I may need to rent out our Wilsden 1st floor flat for a while due to taking a sabbatical. We used a Wilsden conveyancing firm in 2004 but they have closed and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?

Your lease governs the relationship between the freeholder and you the flat owner; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Wilsden do not prevent subletting altogether – such a clause would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

I am hoping to complete next month on a studio apartment in Wilsden. Conveyancing solicitors have said that they will have a report out to me on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Wilsden should include some of the following:

• The total extent of the property. This will be the apartment itself but might incorporate a loft or cellar if applicable.

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Wilsden. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Wilsden ?

Most houses in Wilsden are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Wilsden in which case you should be shopping around for a Wilsden conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your lawyer should advise you fully on all the issues.

What are your top tips when it comes to appointing a Wilsden conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Wilsden conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Wilsden conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

• If they are not ALEP accredited then why not?

Are there frequently found problems that you see in leases for Wilsden properties?

Leasehold conveyancing in Wilsden is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Norwich and Peterborough Building Society, and TSB 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 is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.

Leasehold Conveyancing in Wilsden - Examples of Queries before buying

How long is the Lease? The prefered form of lease structure is if the freehold title is in the ownership of the leaseholders. In this situation the leaseholders benefit from being in charge if their destiny and although a managing agent is often employed where the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. If a Wilsden lease has fewer than eighty years it will impact the salability of the property. It is worth checking with your bank that they are happy with the length of the lease. Leases with fewer than 80 years remaining means that you will most likely require a lease extension sooner rather than later and it is worth discovering what this would cost. Remember, in most cases you will be be obliged to have been the owner of the property for 24 months before you are eligible to carry out a lease extension.

Other Topics

Lease Extensions in Wilsden