Wisbech leasehold conveyancing Example Support Desk Enquiries
Having had my offer accepted I require leasehold conveyancing in Wisbech. Before I set the wheels in motion I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and 99.9% are in Wisbech - 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.
Frank (my husband) and I may need to rent out our Wisbech 1st floor flat for a while due to taking a sabbatical. We instructed a Wisbech conveyancing firm in 2004 but they have closed and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?
Some leases for properties in Wisbech 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 consent.
I today plan to offer on a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Wisbech. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Wisbech ?
Most houses in Wisbech are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Wisbech so you should seriously consider shopping around for a Wisbech 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 unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your conveyancer should advise you fully on all the issues.
I've recently bought a leasehold house in Wisbech. Do I have any liability for service charges for periods before my ownership?
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. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
I am a negotiator for a long established estate agent office in Wisbech where we have experienced a number of flat sales derailed due to short leases. I have received contradictory information from local Wisbech conveyancing firms. Can you shed some light as to whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Wisbech Leasehold Conveyancing - Sample of Questions you should consider Prior to Purchasing
The prefered form of lease arrangement is a share of the freehold. In this arrangement the lessees benefit from being in charge if their destiny and although a managing agent is often employed if it is larger than a house conversion, the managing agent is directed by the tenants.
This question is important as a) areas can cause problems for the block as the common areas may begin to deteriorate where services are not paid for b) if the leaseholders have a dispute with the running of the building you will want to have all the details
Is the freehold owned collectively by the tenants?