Experts for Leasehold Conveyancing in Chesterfield

Get a Quote

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

Top Five Questions relating to Chesterfield leasehold conveyancing

I am on look out for some leasehold conveyancing in Chesterfield. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

If the lease is registered - and 99.9% are in Chesterfield - 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.

Last month I purchased a leasehold flat in Chesterfield. Am I liable to pay service charges for periods before my ownership?

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 ensure 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 am employed by a reputable estate agent office in Chesterfield where we have experienced a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received contradictory information from local Chesterfield conveyancing firms. Could you confirm whether the owner of a flat can commence 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 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 wait 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 disposal of the property.

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 purchaser.

Can you offer any advice when it comes to finding a Chesterfield conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Chesterfield conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Chesterfield 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 helpful:

  • What volume of lease extensions has the firm conducted in Chesterfield in the last 12 months?
  • Can they put you in touch with client in Chesterfield who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in Chesterfield from the point of view of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Chesterfield can be avoided if you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information needed by the purchasers’ conveyancers.
    • Many landlords or Management Companies in Chesterfield levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack sought 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 frequent reason for delay in leasehold conveyancing in Chesterfield.
  • A minority of Chesterfield leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is 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 service charge figures 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 are holding the original share certificate. Arranging a duplicate share certificate is often a lengthy formality and slows down many a Chesterfield conveyancing deal. Where a reissued share certificate is needed, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but it would be wise to verify this via your lawyers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is below 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Leasehold Conveyancing in Chesterfield - Examples of Queries before Purchasing

      The majority of Chesterfield leasehold properties will incur a service bill for the upkeep of the block levied on behalf of the management company. Where you purchase the property you will have to meet this contribution, usually periodically during the year. This can differ from two or three hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent for you to pay annual, this is usually not a exorbitant figure, say about £25-£75 but you should to enquire it because on occasion it can be many hundreds of pounds. Does the lease include onerous restrictions? How many of the leaseholders are in arrears for their service charge payments?

    Other Topics

    Lease Extensions in Chesterfield