I wish to sublet my leasehold flat in Hedon. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Notwithstanding that your last Hedon conveyancing lawyer is not available you can review your lease to see if it allows you to sublet the property. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you need to obtain permission via your landlord or other appropriate person before subletting. The net result is you not allowed to sublet without first obtaining consent. Such consent should not be unreasonably withheld. If your lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.

I today plan to offer on a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Hedon. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Hedon ?

The majority of houses in Hedon are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Hedon so you should seriously consider shopping around for a Hedon conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’sconsent to conduct alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your solicitor should appraise you on the various issues.

I am attracted to a couple of flats in Hedon both have approximately 50 years remaining on the leases. should I be concerned?

There is no doubt about it. A leasehold apartment in Hedon is a wasting 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 less than 75 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 premises 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 property 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 Hedon conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

Last month I purchased a leasehold property in Hedon. 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. 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 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).

Are there common defects that you come across in leases for Hedon properties?

There is nothing unique about leasehold conveyancing in Hedon. All leases are individual and drafting errors can sometimes mean that certain clauses are wrong. 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
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Bank of Scotland, and Britannia all have express 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 provide security, forcing the buyer to pull out.

Hedon Conveyancing for Leasehold Flats - Sample of Queries Prior to buying

How many years are left on the lease? Are any of leasehold owners in dispute over their service charge liability? The best form of lease structure is where the freehold interest is owned by the leaseholders. In this scenario the lessees benefit from control and even though a managing agent is often retained if the building is larger than a house conversion, the managing agent is directed by the tenants.

Other Topics

Lease Extensions in Hedon