Fixed-fee leasehold conveyancing in Boldon Colliery:

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When it comes to leasehold conveyancing in Boldon Colliery, you will need to chose a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Clydesdale , Yorkshire Building Society or NatWest be sure to find a lawyer on their panel. Find a Boldon Colliery conveyancing lawyer with our search tool

Boldon Colliery leasehold conveyancing: Q and A’s

Having had my offer accepted I require leasehold conveyancing in Boldon Colliery. Before diving in I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% are in Boldon Colliery - 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’m about to sell my garden flat in Boldon Colliery.Conveyancing has not commenced but I have just had a quarterly maintenance charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Boldon Colliery. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

The majority of houses in Boldon Colliery are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Boldon Colliery in which case you should be looking for a Boldon Colliery conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your lawyer should report to you on the legal implications.

I own a leasehold flat in Boldon Colliery. Conveyancing and Alliance & Leicester mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Boldon Colliery who previously acted has long since retired.Do I pay?

First contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Boldon Colliery conveyancing solicitor to do this as it can be done on-line 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.

Can you provide any advice for leasehold conveyancing in Boldon Colliery with the aim of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Boldon Colliery can be avoided if you instruct lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the buyers lawyers.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Boldon Colliery state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such changes. Should you dont have the approvals to hand do not communicate with the landlord without checking with your lawyer in advance.
  • Some Boldon Colliery leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, 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 annual 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 are supposed to have a share in the freehold, you should make sure that you are holding the original share certificate. Arranging a duplicate share certificate can be a lengthy process and frustrates many a Boldon Colliery conveyancing deal. Where a duplicate share certificate is needed, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is less than 80 years. It is therefore important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I purchased a studio flat in Boldon Colliery, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Boldon Colliery with an extended lease are worth £193,000. The ground rent is £45 charged once a year. The lease ceases on 21st October 2081

    With 56 years left to run the likely cost is going to be between £27,600 and £31,800 plus costs.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Boldon Colliery