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Frequently asked questions relating to Birtley leasehold conveyancing

I today plan to offer on a house that appears to be perfect, at a great figure which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Birtley. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Birtley ?

The majority of houses in Birtley are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Birtley so you should seriously consider shopping around for a Birtley conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your solicitor will advise you fully on all the issues.

I am a negotiator for a reputable estate agent office in Birtley where we have experienced a few flat sales put at risk due to short leases. I have received contradictory information from local Birtley conveyancing solicitors. Could you shed some light as to whether the seller of a flat can commence the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Can you offer any advice when it comes to choosing a Birtley conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a Birtley conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Birtley conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

  • If they are not ALEP accredited then what is the reason?
  • What volume of lease extensions have they conducted in Birtley in the last twenty four months?

    • Can you provide any advice for leasehold conveyancing in Birtley from the perspective of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Birtley can be avoided if you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
    • The majority freeholders or managing agents in Birtley levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Birtley.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Birtley leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such changes. Should you dont have the paperwork in place you should not communicate with the landlord without checking with your lawyer first.
  • A minority of Birtley leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you hold a share in a the Management Company, you should ensure that you have the original share certificate. Organising a new share certificate is often a time consuming formality and delays many a Birtley conveyancing deal. If a reissued share is required, do contact the company officers or managing agents (if relevant) for this as soon as possible.

    • What makes a Birtley lease unacceptable for security purposes?

    There is nothing unique about leasehold conveyancing in Birtley. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the premises
    • 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

    A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Leeds Building Society, and Britannia 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 withdraw.

    Leasehold Conveyancing in Birtley - Sample of Questions you should ask Prior to buying

      It is important to be aware whether window replacement or some other major work is coming up that will be shared by the leaseholders and could well materially increase the the service charges or require a specific invoice. This question is important as a) areas could result in problems in the block as the common areas may start to deteriorate where services remain unpaid b) if the leasehold owners have an issue with the running of the building you will need to know about it What is the service charge and ground rent on the property?

    Other Topics

    Lease Extensions in Birtley