I am on look out for some leasehold conveyancing in Driffield. Before diving in I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Driffield - 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.

Harry (my fiance) and I may need to sub-let our Driffield ground floor flat for a while due to a new job. We instructed a Driffield conveyancing practice in 2001 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

The lease dictates relations between the landlord and you the leaseholder; specifically, it will say if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Driffield do not contain subletting altogether – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

Expecting to sign contracts shortly on a studio apartment in Driffield. Conveyancing lawyers inform me that they are sending me a report on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Driffield should include some of the following:

• The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years

I have just appointed agents to market my ground floor apartment in Driffield.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should 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. Having a clear account will assist your cause and will leave you no worse off financially.

What makes a Driffield lease problematic?

Leasehold conveyancing in Driffield is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• 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 problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Virgin Money, and Platform Home Loans Ltd all have express requirements 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 grant the mortgage, obliging the purchaser to pull out.

Leasehold Conveyancing in Driffield - Examples of Queries before Purchasing

How many of the leaseholders are in arrears for their maintenance charge payments? Best to be warned whether a new roof is being put on or some other significant cost is anticipated that will be shared between the tenants and could well materially increase the the maintenance charges or necessitate a specific payment. It would be sensible to discover as much as possible about the company managing the building as they can either make life much easier or uncomfortable. As the owner of a leasehold property you will be in the clutches of the managing agents both financially and when it comes to day to day matters such as the tidiness of the communal areas. Enquire of prospective neighbours what they think of their service. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the appropriate party and precisely what it includes.

Other Topics

Lease Extensions in Driffield