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Top Five Questions relating to Appleby In Westmorland leasehold conveyancing

Back In 2004, I bought a leasehold house in Appleby In Westmorland. Conveyancing and National Westminster Bank mortgage organised. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Appleby In Westmorland who previously acted has now retired.Do I pay?

First contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Appleby In Westmorland conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two apartments in Appleby In Westmorland which have approximately forty five years left on the lease term. Will this present a problem?

A lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the value of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this field

I've recently bought a leasehold flat in Appleby In Westmorland. Do I have any liability for service charges for periods before completion of my purchase?

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. It is an essential part 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).

What are your top tips when it comes to choosing a Appleby In Westmorland conveyancing practice to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Appleby In Westmorland conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Appleby In Westmorland 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 practice with lease extension legislation?
  • What are the costs for lease extension conveyancing?

    • Do you have any advice for leasehold conveyancing in Appleby In Westmorland from the point of view of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Appleby In Westmorland can be avoided if you get in touch lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information needed by the buyers solicitors.
    • In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Appleby In Westmorland leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. If you fail to have the consents in place you should not contact the landlord without checking with your lawyer in advance.
  • A minority of Appleby In Westmorland leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be nervous about purchasing a flat where a dispute is ongoing. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to present the dispute as historic rather than ongoing.
  • You believe that you know the number of years left on your lease but it would be advisable double-check via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is under 80 years. It is therefore essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I purchased a garden flat in Appleby In Westmorland, conveyancing was carried out in 2002. Can you work out an approximate cost of a lease extension? Equivalent properties in Appleby In Westmorland with a long lease are worth £176,000. The average or mid-range amount of ground rent is £50 per annum. The lease ceases on 21st October 2104

    With just 80 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 as well as legals.

    The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.

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    Lease Extensions in Appleby In Westmorland