Common questions relating to Cleckheaton leasehold conveyancing
I have just appointed agents to market my 2 bed flat in Cleckheaton.Conveyancing solicitors are to be appointed soon but I have just had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the invoice 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 management companies 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.
I've found a house that seems to be perfect, at a great price which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Cleckheaton. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Cleckheaton ?
Most houses in Cleckheaton are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Cleckheaton in which case you should be looking for a Cleckheaton conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your solicitor should report to you on the legal implications.
Back In 2001, I bought a leasehold house in Cleckheaton. Conveyancing and Coventry Building Society mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Cleckheaton who acted for me is not around.Do I pay?
First make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Cleckheaton 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 looking at a couple of apartments in Cleckheaton which have in the region of fifty years remaining on the lease term. Do I need to be concerned?
There is no doubt about it. A leasehold apartment in Cleckheaton is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the marketability of the premises. For most purchasers and mortgage companies, leases with less than 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 property 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 Cleckheaton 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 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 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 choosing a Cleckheaton conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Cleckheaton conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Cleckheaton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- What volume of lease extensions have they completed in Cleckheaton in the last year?
Leasehold Conveyancing in Cleckheaton - A selection of Questions you should ask Prior to buying
Make sure you discover if there is anything that is prohibited in the lease. For instance plenty of leases prohibit pets being allowed in certain buildings in Cleckheaton. If you like the propertyin Cleckheaton however your cat is not allowed to live with you then you have a very hard decision.
What is the annual maintenance fee and ground rent?
For most Cleckheaton leaseholds the outlay for major works are not wrapped into the service charges, although some managing agents in Cleckheaton require leasehold owners to pay into a sinking fund and this is used to offset against major repairs or maintenance.