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Castleford leasehold conveyancing: Q and A’s

Looking forward to complete next month on a studio apartment in Castleford. Conveyancing solicitors inform me that they report fully within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Castleford should include some of the following:

  • Does the lease prohibit wood flooring?
  • Whether the lease restricts you from letting out the property, or working from home
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Repair and maintenance of the flat
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For a comprehensive list of information to be included in your report on your leasehold property in Castleford please enquire of your conveyancer in advance of your conveyancing in Castleford

    • Back In 2009, I bought a leasehold house in Castleford. Conveyancing and Chelsea Building Society mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Castleford who previously acted has long since retired.Do I pay?

    First contact HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Castleford conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I've recently bought a leasehold property in Castleford. Am I liable to pay service charges relating to a period prior to my ownership?

    In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    I work for a busy estate agent office in Castleford where we see a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Castleford conveyancing solicitors. Can you clarify whether the seller of a flat can start the lease extension process for the buyer?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

    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 purchaser.

    Do you have any advice for leasehold conveyancing in Castleford with the purpose of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Castleford can be bypassed if you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the purchasers’ solicitors.
    • If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you laid down wooden flooring? Castleford leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord consenting to such changes. Where you dont have the consents to hand you should not contact the landlord without contacting your solicitor in advance.
  • A minority of Castleford leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you hold a share in a the Management Company, you should ensure that you are holding the original share certificate. Arranging a re-issued share certificate is often a time consuming formality and delays many a Castleford conveyancing transaction. Where a reissued share certificate is required, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but you should double-check by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Castleford Leasehold Conveyancing - A selection of Queries Prior to buying

      For many Castleford leaseholds the outlay for major works are not included within maintenance charges, although a few managing agents in Castleford obliged leasehold owners to pay into a reserve fund created for the specific intention of establishing a fund for major works. How many of the leaseholders are in arrears for their maintenance charge payments? Its a good idea to discover as much as possible regarding the company managing the block as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to practical matters like the tidiness of the common parts. You should not be afraid to ask prospective neighbours what they think of their management. In conclusion, be sure you discover the dates that the maintenance charges are due to the managing agents and specifically how they are spending that money.

    Other Topics

    Lease Extensions in Castleford