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Recently asked questions relating to Derby leasehold conveyancing

I am intending to rent out my leasehold flat in Derby. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Some leases for properties in Derby do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I’m about to sell my 2 bed flat in Derby.Conveyancing has not commenced but I have just received a yearly service charge invoice – Do I pay up?

It best that you pay 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 managing agents will not acknowledge the buyer until 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. This will smooth the conveyancing process.

I am looking at a couple of flats in Derby which have about forty five years unexpired on the leases. Will this present a problem?

There are plenty of short leases in Derby. The lease is a right to use the property for a period of time. As a lease gets shorter the marketability of the lease deteriorate and it becomes more costly to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field

Can you offer any advice when it comes to finding a Derby conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Derby conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Derby conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

  • How familiar is the practice with lease extension legislation?
  • How many lease extensions has the firm conducted in Derby in the last year?

    • Can you provide any top tips for leasehold conveyancing in Derby from the perspective of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Derby can be bypassed if you instruct lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers solicitors.
    • If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Derby leases often stipulate that internal structural changes or installing wooden flooring require a licence from the Landlord approving such alterations. Where you fail to have the paperwork to hand you should not contact the landlord without checking with your lawyer in the first instance.
  • A minority of Derby leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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 buyers or their lawyers.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing 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 buyers, but it is clearly preferable to present the dispute as over as opposed to unresolved.
  • If you have the benefit of shareholding in the freehold, you should make sure that you have the original share certificate. Obtaining a replacement share certificate is often a time consuming formality and slows down many a Derby home move. If a duplicate share is required, do contact the company officers or managing agents (if relevant) for this sooner rather than later.

    • Derby Conveyancing for Leasehold Flats - Examples of Queries before buying

      What restrictions are there in the Derby Lease? How much is the ground rent and service charge? On the whole the cost for major works are not wrapped into the maintenance charges, although some managing agents in Derby obliged tenants to pay into a reserve fund and this is used to offset against larger works.

    Other Topics

    Lease Extensions in Derby