Fixed-fee leasehold conveyancing in Greenfield:

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Recently asked questions relating to Greenfield leasehold conveyancing

My fiance and I may need to let out our Greenfield basement flat temporarily due to a new job. We instructed a Greenfield conveyancing firm in 2002 but they have closed and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?

A small minority of properties in Greenfield do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience dictates 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 consent.

I've found a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Greenfield. Conveyancing solicitors have are about to be appointed. Will they explain the issues?

The majority of houses in Greenfield are freehold rather than 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 Greenfield in which case you should be shopping around for a Greenfield conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your lawyer will advise you fully on all the issues.

I am looking at a couple of flats in Greenfield both have approximately 50 years left on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Greenfield is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the value of the property. For most buyers and lenders, leases with under 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 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 Greenfield 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 the agreed 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.

What advice can you give us when it comes to choosing a Greenfield conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Greenfield conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Greenfield conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

  • What volume of lease extensions has the firm conducted in Greenfield in the last twenty four months?
  • Can they put you in touch with client in Greenfield who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Greenfield with the aim of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Greenfield can be bypassed where you appoint lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the buyers lawyers.
    • In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Greenfield leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. Should you dont have the consents in place you should not contact the landlord without checking with your solicitor in the first instance.
  • A minority of Greenfield leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any 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 purchasers or their solicitors.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to 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 prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than unresolved.
  • If you are supposed to have a share in the Management Company, you should ensure that you hold the original share document. Organising a new share certificate is often a time consuming process and frustrates many a Greenfield home move. If a new share is necessary, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later.

    • Greenfield Leasehold Conveyancing - A selection of Questions you should consider before Purchasing

      Is the freehold reversion owned collectively by the tenants? It is important to be aware if redecorating or some other major work is anticipated that will be shared by the leasehold owners and may well materially impact the level of the service fees or result in a specific invoice. For many Greenfield leaseholds the outlay for major works are not wrapped into the maintenance charges, although a few managing agents in Greenfield ask tenants to contribute towards a sinking fund created for the specific intention of establishing a fund for larger repairs or maintenance.

    Other Topics

    Lease Extensions in Greenfield