My partner and I may need to sub-let our Tintagel 1st floor flat for a while due to a career opportunity. We used a Tintagel conveyancing firm in 2001 but they have since shut and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Tintagel do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold 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.

Due to complete next month on a garden flat in Tintagel. Conveyancing solicitors assured me that they report fully on Monday. Are there areas in the report that I should be focusing on?

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

• Setting out your legal entitlements in relation to common areas in the building.For example, does the lease contain a right of way over a path or staircase?

I have just appointed agents to market my garden apartment in Tintagel.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge invoice – Do I pay up?

The sensible thing to do is discharge the service charge 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 unless 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 flats in Tintagel which have in the region of forty five years remaining on the leases. Will this present a problem?

There are plenty of short leases in Tintagel. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease reduces and it becomes more expensive to extend the lease. 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 as mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena

What makes a Tintagel lease unmortgageable?

Leasehold conveyancing in Tintagel is not unique. Most leases is drafted differently and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Virgin Money, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.

Tintagel Leasehold Conveyancing - Examples of Queries Prior to buying

You should be aware that where the lease has less than eighty years it will affect the value of the apartment. It is worth checking with your bank that they are content with remaining years on the lease. Leases with less than 80 years remaining means that you will probably require a lease extension at some point and it is worth finding out what this will be. For most Tintagellease extensions you will be be obliged to have been the owner of the property for 24 months in order to be eligible to extend the lease. Is the freehold reversion owned collectively by the tenants? The prefered form of lease structure is a share of the freehold. In this arrangement the leaseholders enjoy being in charge if their destiny and although a managing agent is frequently retained where it is bigger than a house conversion, the managing agent acts for the leaseholders themselves.

Other Topics

Lease Extensions in Tintagel