Fixed-fee leasehold conveyancing in Dronfield:

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Frequently asked questions relating to Dronfield leasehold conveyancing

There are only Sixty One years left on my flat in Dronfield. I am keen to extend my lease but my freeholder is can not be found. What are my options?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to find the freeholder. For most situations an enquiry agent should be useful to conduct investigations and to produce an expert document to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s absence and the application to the County Court covering Dronfield.

I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Dronfield. Conveyancing advisers have are about to be appointed. Will they explain the issues?

Most houses in Dronfield are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Dronfield in which case you should be shopping around for a Dronfield conveyancing practitioner and check 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 at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your solicitor will report to you on the legal implications.

I am attracted to a couple of flats in Dronfield both have approximately forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Dronfield is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. The majority of buyers and mortgage companies, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 Dronfield 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new 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.

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

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

  • If the firm is not ALEP accredited then why not?
  • Can they put you in touch with client in Dronfield who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in Dronfield from the point of view of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Dronfield can be bypassed where you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information needed by the purchasers’ lawyers.
    • A minority of Dronfield leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over rather than unsettled.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share certificate. Organising a duplicate share certificate is often a lengthy formality and slows down many a Dronfield home move. Where a duplicate share is necessary, do contact the company officers or managing agents (if applicable) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to where the lease term is below 75 years. In the circumstances it is important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Dronfield Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing

      It would be wise to find out as much as you can regarding the company managing the block as they will either make your living at the property much simpler or uncomfortable. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to daily issues like the tidiness of the common parts. You should not be afraid to ask other people what they think of them. Finally, be sure you discover the dates that you are obliged pay the maintenance charge to the appropriate party and specifically how they are spending the funds. Is there a share of the freehold? Be sure to discover if the the lease includes any unreasonable restrictions in the lease. For example plenty of leases prohibit pets being allowed in certain buildings in Dronfield. If you like the flatin Dronfield however your dog is not allowed to make the move with you then you have a very hard compromise.

    Other Topics

    Lease Extensions in Dronfield