Experts for Leasehold Conveyancing in Caistor

Get a Quote

While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Caistor, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Top Five Questions relating to Caistor leasehold conveyancing

I want to sublet my leasehold apartment in Caistor. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

A lease governs relations between the landlord and you the flat owner; specifically, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Caistor do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

I’m about to sell my basement flat in Caistor.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge demand – Do I pay up?

The sensible thing to do is pay the service charge 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 managing agents will not acknowledge the buyer unless 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.

Back In 2006, I bought a leasehold house in Caistor. Conveyancing and Birmingham Midshires mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Caistor who acted for me is not around.Do I pay?

First contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Caistor conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am employed by a busy estate agent office in Caistor where we have witnessed a few leasehold sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Caistor conveyancing firms. Could you confirm whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner 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. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

Alternatively, it may be possible 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.

Do you have any top tips for leasehold conveyancing in Caistor from the perspective of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Caistor can be bypassed where you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the buyers representatives.
  • If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Caistor state that internal structural changes or installing wooden flooring require a licence from the Landlord approving such works. Where you dont have the consents in place you should not communicate with the landlord without contacting your conveyancer before hand.
  • A minority of Caistor leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are able to meet 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Obtaining a re-issued share certificate is often a time consuming process and delays many a Caistor home move. Where a new share certificate is required, do contact the company director and secretary or managing agents (if 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 advisable double-check by asking your lawyers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is below 80 years. It is therefore essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Caistor Leasehold Conveyancing - Examples of Questions you should ask before buying

      Are there any major works in the near future that will likely increase the maintenance charges? Plenty Caistor leasehold properties will incur a service bill for the upkeep of the block levied on behalf of the landlord. Where you purchase the apartment you will have to meet this amount, usually quarterly accross the year. This could vary from several hundred pounds to thousands of pounds for buildings with lifts and large common areas. There will also be a rentcharge for you to pay yearly, this is usually not a large sum, say about £25-£75 but you need to check it because occasionally it could be surprisingly expensive. How is the lease structured?

    Other Topics

    Lease Extensions in Caistor