Fixed-fee leasehold conveyancing in Consett:

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

Recently asked questions relating to Consett leasehold conveyancing

I am on look out for some leasehold conveyancing in Consett. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Consett - 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.

I've found a house that seems to meet my requirements, at a great figure which is making it more attractive. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Consett. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Consett ?

Most houses in Consett are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Consett in which case you should be shopping around for a Consett conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your conveyancer should appraise you on the various issues.

I own a leasehold house in Consett. Conveyancing and Birmingham Midshires mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Consett who acted for me is not around.What should I do?

The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Consett conveyancing firm to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

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

  • Much of the delay in leasehold conveyancing in Consett can be reduced if you instruct lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the purchasers’ lawyers.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Consett state that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord consenting to such works. Where you dont have the consents to hand do not communicate with the landlord without contacting your solicitor before hand.
  • A minority of Consett leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents 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 annual 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 buyers or their lawyers.
  • If you hold a share in a the freehold, you should ensure that you are holding the original share certificate. Organising a duplicate share certificate can be a lengthy formality and delays many a Consett conveyancing transaction. If a new share is needed, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. It is therefore important 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 home on the market for sale.

    • What are the frequently found deficiencies that you come across in leases for Consett properties?

    There is nothing unique about leasehold conveyancing in Consett. All leases are unique and legal mistakes in the legal wording can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the building
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, The Mortgage Works, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to withdraw.

    Leasehold Conveyancing in Consett - A selection of Queries before Purchasing

      What is the name of the managing agents? How long is the Lease? You will want to discover as much as you can concerning the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents from a financial perspective and when it comes to every day issues such as the upkeep of the common parts. Ask other tenants what they think of their service. In conclusion, find out the dates that you are obliged pay the service charge to the appropriate party and precisely how they are spending the funds.

    Other Topics

    Lease Extensions in Consett