Recently asked questions relating to Blackwood leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Blackwood. Before I get started I require certainty as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Blackwood - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I only have 62 years left on my lease in Blackwood. I now want to get lease extension but my freeholder is missing. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to prove that you have used your best endeavours to find the landlord. On the whole an enquiry agent may be useful to conduct investigations and prepare a report which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Blackwood.
I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Blackwood. Conveyancing advisers have not yet been appointed. Will they explain the issues?
The majority of houses in Blackwood are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Blackwood in which case you should be looking for a Blackwood conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your solicitor will report to you on the legal implications.
I am looking at a two apartments in Blackwood which have in the region of 50 years remaining on the leases. Will this present a problem?
There are plenty of short leases in Blackwood. The lease is a right to use the property for a period of time. As the lease shortens the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena
Do you have any advice for leasehold conveyancing in Blackwood from the point of view of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Blackwood can be bypassed where you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information which will be required by the purchasers’ representatives.
- In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Blackwood leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such changes. If you fail to have the paperwork in place do not contact the landlord without checking with your lawyer in the first instance.
Blackwood Leasehold Conveyancing - Examples of Questions you should consider Prior to buying
You will want to find out as much as you can about the managing agents as they will either make your living at the property much easier or problematic. As the owner of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to day to day matters such as the tidiness of the common parts. Enquire of prospective neighbours what they think of their service. Finally, be sure you know the dates that the service fees are due to the managing agents and specifically what it includes.
Is the freehold owned jointly by the leaseholders?
Does the lease include onerous restrictions?