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

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Questions and Answers: Bradford leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Bradford. Before I set the wheels in motion I require certainty as to the remaining lease term.

If the lease is registered - and almost all are in Bradford - then the leasehold title will always include the basic details 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 am hoping to put an offer on a small detached 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 rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Bradford. Conveyancing advisers have are about to be instructed. Will they explain the issues?

The majority of houses in Bradford are freehold and not 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 clear that you are buying in Bradford so you should seriously consider looking for a Bradford conveyancing practitioner and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your lawyer should report to you on the legal implications.

I own a leasehold house in Bradford. Conveyancing and Britannia mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Bradford who previously acted has now retired.What should I do?

The first thing you should do is contact the Land Registry to be 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 Bradford conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a two maisonettes in Bradford both have in the region of forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Bradford is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. The majority of buyers and mortgage companies, leases with less than 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 premises 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 premises 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 Bradford 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.

What advice can you give us when it comes to appointing a Bradford conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Bradford conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Bradford conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

  • How familiar is the practice with lease extension legislation?
  • If the firm is not ALEP accredited then what is the reason?

  • Bradford Conveyancing for Leasehold Flats - Examples of Queries Prior to buying

      You should want to find out as much as you can regarding the managing agents as they will either make your life much easier or a lot more difficult. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to practical matters like the tidiness of the communal areas. Ask other tenants whether they are happy with them. Finally, find out the dates that the service fees are due to the relevant party and precisely what it includes. If a Bradford lease has less than eighty years it will affect the marketability of the property. It is worth checking with your bank that they are willing to go ahead with the loan given the lease term. A short lease means that you will probably need a lease extension sooner rather than later and it is worth discovering how much this would cost. Remember, in most cases you will be be obliged to have been the owner of the property for a couple of years before you are entitled to carry out a lease extension. How long is the Lease?

    Other Topics

    Lease Extensions in Bradford