I own a leasehold house in Goole. Conveyancing and TSB mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Goole who previously acted has now retired.What should I do?

First contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Goole conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a two apartments in Goole which have about fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Goole is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the property. The majority of buyers and mortgage companies, leases with less than eighty years become less and less marketable. On a more upbeat 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 property 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 Goole 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

I am a negotiator for a busy estate agency in Goole where we see a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Goole conveyancing solicitors. Can you clarify whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner 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. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. 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.

An alternative approach is 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 Goole with the purpose of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Goole can be reduced if you appoint lawyers as soon as you market your property and ask them to collate the leasehold information needed by the buyers lawyers.
• Many landlords or Management Companies in Goole levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Goole.

In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Goole leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. Should you dont have the approvals to hand you should not communicate with the landlord without checking with your solicitor in advance.

A minority of Goole 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 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 you hold a share in a the freehold, you should make sure that you have the original share document. Organising a re-issued share certificate can be a time consuming process and delays many a Goole conveyancing deal. If a duplicate share is required, do contact the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.

If all goes to plan we aim to complete the sale of our £150000 flat in Goole on Tuesday in a week. The landlords agents has quoted £348 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Goole?

Goole conveyancing on leasehold maisonettes usually results in fees being raised by management companies :

• Completing pre-exchange enquiries
• Where consent is required before sale in Goole
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Goole leasehold property is £350. For Goole conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

Goole Leasehold Conveyancing - Examples of Queries Prior to Purchasing

In the main the outlay for major works are not incorporated into the service charges, although a few managing agents in Goole obliged tenants to pay into a reserve fund and this is used to offset against major repairs or maintenance. It is important to be aware if fixing the lift or some other significant cost is due in the foreseeable future that will be shared between the leasehold owners and could well materially impact the level of the service costs or result in a one off invoice. You should want to discover as much as possible regarding the company managing the block as they will either make your living at the property much easier or uncomfortable. Being a leasehold owner you are often in the clutches of the managing agents from a financial perspective and when it comes to daily issues like the tidiness of the communal areas. Don't be afraid to ask other tenants whether they are happy with their service. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and specifically what you get for your money.

Other Topics

Lease Extensions in Goole