Sample questions relating to Durham leasehold conveyancing
I am on look out for some leasehold conveyancing in Durham. Before I set the wheels in motion I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Durham - 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.
Frank (my husband) and I may need to let out our Durham garden flat for a while due to a career opportunity. We used a Durham conveyancing firm in 2004 but they have since shut and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Your lease dictates the relationship between the freeholder and you the leaseholder; in particular, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Durham do not contain subletting altogether – such a provision would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great figure which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Durham. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Durham ?
Most houses in Durham 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 apparent that you are purchasing in Durham in which case you should be looking for a Durham conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant 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. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer should report to you on the legal implications.
I am looking at a couple of apartments in Durham both have in the region of fifty years left on the leases. Will this present a problem?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this area
Last month I purchased a leasehold flat in Durham. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a 2 bed flat in Durham, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Durham with an extended lease are worth £225,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease ceases on 21st October 2085
You have 61 years remaining on your lease we estimate the premium for your lease extension to range between £22,800 and £26,400 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
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