Leasehold Conveyancing in Barrow upon Humber - Get a Quote from the leasehold experts approved by your lender

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When it comes to leasehold conveyancing in Barrow upon Humber, you will need to appoint a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Santander, Yorkshire Building Society or Nationwide make sure you find a lawyer on their approved list. Find a Barrow upon Humber conveyancing lawyer with our search tool

Barrow upon Humber leasehold conveyancing: Q and A’s

Back In 2007, I bought a leasehold house in Barrow upon Humber. Conveyancing and Aldermore mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Barrow upon Humber who acted for me is not around.Any advice?

First contact HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Barrow upon Humber conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a two apartments in Barrow upon Humber both have in the region of fifty years left on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Barrow upon Humber is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the salability of the premises. For most buyers and lenders, 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 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 Barrow upon Humber 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 any new 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 Barrow upon Humber. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee 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).

Can you offer any advice when it comes to finding a Barrow upon Humber conveyancing practice to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Barrow upon Humber 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 Barrow upon Humber conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

  • What volume of lease extensions have they conducted in Barrow upon Humber in the last 12 months?
  • What are the charges for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in Barrow upon Humber with the aim of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Barrow upon Humber can be bypassed if you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers.
    • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Barrow upon Humber state that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord consenting to such changes. If you fail to have the consents in place you should not communicate with the landlord without contacting your lawyer first.
  • Some Barrow upon Humber leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet 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 solicitors.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to discharge 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 prior to 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 better to present the dispute as historic as opposed to unsettled.
  • You believe that you know the number of years left on your lease but it would be advisable double-check by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 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 home on the market for sale.

    • I inherited a ground floor flat in Barrow upon Humber, conveyancing formalities finalised in 2010. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Barrow upon Humber with over 90 years remaining are worth £266,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2103

    With 78 years unexpired the likely cost is going to span between £8,600 and £9,800 plus legals.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Barrow upon Humber