Sample questions relating to Deeside leasehold conveyancing
I am on look out for some leasehold conveyancing in Deeside. Before diving in I require certainty as to the number of years remaining on the lease.
Assuming the lease is registered - and most are in Deeside - 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 appears 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 am assuming that there are issues buying a house with a leasehold title in Deeside. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Deeside ?
The majority of houses in Deeside are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Deeside in which case you should be looking for a Deeside conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your lawyer will report to you on the legal implications.
I am employed by a reputable estate agency in Deeside where we see a number of flat sales jeopardised as a result of short leases. I have been given contradictory information from local Deeside conveyancing firms. Can you shed some light as to whether the owner of a flat can initiate the lease extension process for the buyer?
As long as the seller has owned the lease 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 can avoid having 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.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 provide any advice for leasehold conveyancing in Deeside with the aim of expediting the sale process?
- Much of the delay in leasehold conveyancing in Deeside can be bypassed where you appoint lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ lawyers.
- The majority freeholders or managing agents in Deeside charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Deeside.
Are there frequently found deficiencies that you come across in leases for Deeside properties?
Leasehold conveyancing in Deeside is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. 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 property
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, The Royal Bank of Scotland, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.
Deeside Leasehold Conveyancing - A selection of Queries before buying
What restrictions exist in the Deeside Lease?
This information is helpful as a) areas may cause problems for the building as the common areas may begin to deteriorate where maintenance remain unpaid b) if the tenants have a dispute with the managing agents you will need to know about it
Be sure to enquire if the the lease includes any adverse restrictions in the lease. For example plenty of leases prohibit pets being allowed in certain buildings in Deeside. If you love the propertyin Deeside yet your cat is not allowed to make the move with you then you have a very difficult choice.