Leasehold Conveyancing in Wolverton - Get a Quote from the leasehold experts approved by your lender

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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Wolverton, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Sample questions relating to Wolverton leasehold conveyancing

My partner and I may need to sub-let our Wolverton basement flat for a while due to taking a sabbatical. We instructed a Wolverton conveyancing firm in 2003 but they have closed and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?

A lease governs the relationship between the landlord and you the leaseholder; specifically, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Wolverton do not prevent subletting altogether – such a provision would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

Planning to sign contracts shortly on a ground floor flat in Wolverton. Conveyancing solicitors have said that they report fully on Monday. What should I be looking out for?

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

  • Whether the lease restricts you from letting out the property, or having a home office for business
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Wolverton please ask your conveyancer in advance of your conveyancing in Wolverton

    • I have just started marketing my basement flat in Wolverton.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly maintenance charge demand – Do I pay up?

    The sensible thing to do is clear the invoice 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 attracted to a couple of maisonettes in Wolverton both have approximately fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

    A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the marketability of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena

    Do you have any top tips for leasehold conveyancing in Wolverton from the point of view of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Wolverton can be reduced if you instruct lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information needed by the purchasers’ representatives.
    • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Wolverton leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord approving such changes. Where you dont have the consents in place you should not communicate with the landlord without contacting your solicitor in advance.
  • A minority of Wolverton leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share certificate. Obtaining a re-issued share certificate can be a time consuming process and delays many a Wolverton home move. If a duplicate share certificate is needed, do contact the company officers or managing agents (if applicable) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your solicitors. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. It is therefore important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • Wolverton Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to buying

      How many years remain on the lease? It would be a good idea to enquire if the the lease contains any adverse restrictions in the lease. For instance plenty of leases prohibit pets being allowed in certain buildings in Wolverton. If you like the apartmentin Wolverton but your cat can’t live with you then you will be faced hard determination. The prefered form of lease structure is if the freehold title is in the ownership of the leaseholders. In this scenario the tenants have being in charge if their destiny and notwithstanding that a managing agent is usually employed if the building is bigger than a house conversion, the managing agent retained by the leaseholders.

    Other Topics

    Lease Extensions in Wolverton