Leasehold Conveyancing in Bishop Auckland - Get a Quote from the leasehold experts approved by your lender

When it comes to leasehold conveyancing in Bishop Auckland, you will need to chose a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Halifax, Yorkshire Building Society or Nationwide make sure you choose a lawyer on their panel. Find a Bishop Auckland conveyancing lawyer with our search tool

Recently asked questions relating to Bishop Auckland leasehold conveyancing

Jane (my partner) and I may need to let out our Bishop Auckland 1st floor flat for a while due to a career opportunity. We used a Bishop Auckland conveyancing firm in 2001 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?

Some leases for properties in Bishop Auckland do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review 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 permission.

I have recently realised that I have Fifty years remaining on my flat in Bishop Auckland. I now wish to get lease extension but my landlord is absent. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you have done all that could be expected to find the lessor. For most situations a specialist would be useful to carry out a search and prepare a report to be used as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer both on investigating the landlord’s absence and the application to the County Court overseeing Bishop Auckland.

I've found a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Bishop Auckland. Conveyancing advisers have not yet been instructed. Will they explain the issues?

Most houses in Bishop Auckland are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Bishop Auckland in which case you should be looking for a Bishop Auckland conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer will advise you fully on all the issues.

I am tempted by the attractive purchase price for a couple of flats in Bishop Auckland which have approximately forty five years unexpired on the lease term. should I be concerned?

A lease is a right to use the property for a prescribed time frame. As a lease shortens the marketability of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area

I am employed by a reputable estate agency in Bishop Auckland where we have experienced a few flat sales derailed due to short leases. I have been given inconsistent advice from local Bishop Auckland conveyancing solicitors. Can you shed some light as to whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer 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 simultaneously with completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder 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.

Bishop Auckland Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying

    This question is helpful as a) areas may cause problems in the building as the common areas may start to deteriorate where repairs are not paid for b) if the leaseholders have an issue with the running of the building you will need to know about it It is important to be aware if a new roof is being put on or some other major work is coming up that will be shared amongst the leaseholders and will dramatically impact the level of the maintenance fees or require a one off invoice. What is the name of the managing agents?

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Lease Extensions in Bishop Auckland