Wokingham leasehold conveyancing Example Support Desk Enquiries
Helen (my wife) and I may need to let out our Wokingham basement flat for a while due to a new job. We instructed a Wokingham conveyancing practice in 2001 but they have closed and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?
Some leases for properties in Wokingham do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse 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 am looking at a couple of apartments in Wokingham both have about 50 years left on the leases. should I be concerned?
There are plenty of short leases in Wokingham. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease decreases and it becomes more costly to extend the lease. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena
I've recently bought a leasehold flat in Wokingham. Am I liable to pay 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. A critical element 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).
What are your top tips when it comes to choosing a Wokingham conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Wokingham conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Wokingham 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:
- What volume of lease extensions have they completed in Wokingham in the last 12 months?
- What are the legal fees for lease extension work?
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £ 475000 garden flat in Wokingham in 10 days. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Wokingham?
For most leasehold sales in Wokingham conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-exchange questions
- Where consent is required before sale in Wokingham
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Wokingham Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
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Best to be warned if fixing the lift or some other major work is coming up to be shared by the tenants and may well dramatically impact the level of the service costs or require a specific payment.
Is anyone aware of any major works anticipated that could increase the maintenance costs?