My husband and I may need to sub-let our Marks Gate 1st floor flat temporarily due to a new job. We instructed a Marks Gate conveyancing practice in 2003 but they have closed and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?

The lease governs the relationship between the landlord and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Marks Gate do not contain strict prohibition on subletting – such a provision would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

I am looking at a couple of flats in Marks Gate both have approximately 50 years left on the leases. should I be concerned?

There are plenty of short leases in Marks Gate. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the marketability of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this area

Can you provide any top tips for leasehold conveyancing in Marks Gate with the aim of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Marks Gate can be avoided if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ representatives.
• Many freeholders or managing agents in Marks Gate levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Marks Gate.

In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Marks Gate state that internal structural changes or installing wooden flooring necessitate a licence from the Landlord consenting to such changes. If you dont have the approvals to hand you should not contact the landlord without checking with your solicitor before hand.

If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve 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 details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than ongoing.

If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share certificate. Arranging a re-issued share certificate is often a lengthy process and slows down many a Marks Gate home move. If a reissued share certificate is necessary, do contact the company director and secretary or managing agents (where applicable) for this sooner rather than later.

Completion in due on the sale of our £475000 flat in Marks Gate next Tuesday . The managing agents has quoted £300 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Marks Gate?

For most leasehold sales in Marks Gate 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 conveyancing due diligence enquiries
• Where consent is required before sale in Marks Gate
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Marks Gate leasehold premises is £350. For Marks Gate conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

I am the leaseholder of a a ground floor purpose built flat in Marks Gate. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?

You certainly can. We can put you in touch with a Marks Gate conveyancing firm who can help.

An example of a Lease Extension case for a Marks Gate property is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case affected 1 flat. The the unexpired term as at the valuation date was 61.36 years.

Are there common defects that you see in leases for Marks Gate properties?

Leasehold conveyancing in Marks Gate is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Leeds Building Society, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.

Other Topics

Lease Extensions in Marks Gate