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

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When it comes to leasehold conveyancing in Castleford, you will need to chose a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Santander, RBS or Nationwide make sure you find a lawyer on their approved list. Find a Castleford conveyancing lawyer with our search tool

Top Five Questions relating to Castleford leasehold conveyancing

Having checked my lease I have discovered that there are only 68 years left on my flat in Castleford. I now wish to get lease extension but my freeholder is can not be found. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to locate the lessor. For most situations an enquiry agent may be useful to try and locate and prepare a report which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Castleford.

I've found a house that seems to be perfect, at a reasonable price which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Castleford. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?

The majority of houses in Castleford are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Castleford so you should seriously consider looking for a Castleford conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your solicitor should report to you on the legal implications.

I am attracted to a two flats in Castleford which have approximately fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Castleford is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the value of the property. For most purchasers and lenders, leases with under eighty years become less and less attractive. 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 Castleford conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed 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 are your top tips when it comes to appointing a Castleford conveyancing firm to carry out our lease extension conveyancing?

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

  • If they are not ALEP accredited then what is the reason?
  • How many lease extensions has the firm carried out in Castleford in the last 12 months?

    • Do you have any advice for leasehold conveyancing in Castleford with the intention of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Castleford can be avoided if you get in touch lawyers the minute your agents start marketing the property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors.
    • Many landlords or Management Companies in Castleford charge for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Castleford.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unresolved.
  • If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share document. Obtaining a duplicate share certificate is often a lengthy formality and frustrates many a Castleford conveyancing transaction. Where a duplicate share is necessary, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.
  • 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 solicitors. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is below 80 years. In the circumstances it is important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Castleford Leasehold Conveyancing - A selection of Queries before Purchasing

      This question is useful as a) areas may cause problems in the block as the common areas may begin to deteriorate where services are not paid for b) if the leasehold owners have an issue with the managing agents you will need to have all the details How much is the ground rent and service charge? How many years are left on the lease?

    Other Topics

    Lease Extensions in Castleford