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Sample questions relating to Woodhall Spa leasehold conveyancing

Jane (my partner) and I may need to let out our Woodhall Spa basement flat for a while due to a new job. We used a Woodhall Spa conveyancing firm in 2003 but they have since shut and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

The lease governs the relationship between the landlord and you the flat owner; specifically, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Woodhall Spa do not contain strict prohibition on subletting – such a clause would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

Due to exchange soon on a ground floor flat in Woodhall Spa. Conveyancing lawyers inform me that they are sending me a report tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Woodhall Spa should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • The physical extent of the demise. This will be the apartment itself but might include a loft or cellar if appropriate.
  • Whether your lease has a provision for a reserve fund?
  • Repair and maintenance of the flat
  • 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 options are open to you if a neighbour breach a clause of their lease? For details of the information to be included in your report on your leasehold property in Woodhall Spa please enquire of your conveyancer in advance of your conveyancing in Woodhall Spa

    • I am tempted by the attractive purchase price for a two apartments in Woodhall Spa both have in the region of forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

    There is no doubt about it. A leasehold apartment in Woodhall Spa is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. The majority of buyers and banks, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Woodhall Spa conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

    What are your top tips when it comes to appointing a Woodhall Spa conveyancing firm to deal with our lease extension?

    If you are instructing a conveyancer for your lease extension (regardless if they are a Woodhall Spa conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Woodhall Spa conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

    • How experienced is the firm with lease extension legislation?
  • What volume of lease extensions have they completed in Woodhall Spa in the last year?

    • Do you have any advice for leasehold conveyancing in Woodhall Spa from the point of view of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Woodhall Spa can be avoided where you get in touch lawyers the minute your agents start advertising the property and ask them to collate the leasehold information which will be required by the buyers representatives.
    • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Woodhall Spa state that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord consenting to such alterations. If you fail to have the approvals in place you should not contact the landlord without checking with your solicitor before hand.
  • A minority of Woodhall Spa leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual 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 purchasers or their solicitors.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be concerned about purchasing a property where a dispute is unsettled. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than unsettled.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is below 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • Woodhall Spa Conveyancing for Leasehold Flats - Examples of Queries before Purchasing

      It would be sensible to enquire if the the lease includes any unreasonable restrictions in the lease. For instance it is reasonably common in Woodhall Spa leases that pets are not permitted in in a block in Woodhall Spa. If you like the flatin Woodhall Spa but your cat can’t move with you then you will be faced hard decision. Are any of leasehold owners in dispute over their service charge liability? The answer will be useful as a) areas may cause problems in the building as the communal areas may begin to deteriorate if services remain unpaid b) if the leaseholders have a dispute with the managing agents you will need to know about it

    Other Topics

    Lease Extensions in Woodhall Spa