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Headingley leasehold conveyancing Example Support Desk Enquiries

I am hoping to exchange soon on a ground floor flat in Headingley. Conveyancing solicitors inform me that they are sending me a report next week. What should I be looking out for?

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

  • Are you allowed to have a pet in the flat?
  • Does the lease prevent you from letting out the flat, or having a home office for business
  • You should be told what constitutes a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Repair and maintenance of the flat
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For a comprehensive list of information to be contained in your report on your leasehold property in Headingley please enquire of your conveyancer in advance of your conveyancing in Headingley

    • I today plan to offer on a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Headingley. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

    The majority of houses in Headingley are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Headingley in which case you should be looking for a Headingley conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your conveyancer will advise you fully on all the issues.

    Back In 2008, I bought a leasehold flat in Headingley. Conveyancing and HSBC Bank mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Headingley who acted for me is not around.Do I pay?

    The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to instruct a Headingley conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    Do you have any top tips for leasehold conveyancing in Headingley with the purpose of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Headingley can be avoided where you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers lawyers.
    • The majority landlords or managing agents in Headingley charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. 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 Headingley.
  • Some Headingley 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 obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual 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 you hold a share in a the freehold, you should ensure that you hold the original share document. Organising a duplicate share certificate is often a lengthy formality and frustrates many a Headingley conveyancing transaction. Where a new share certificate is necessary, do contact the company director and secretary or managing agents (where relevant) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but you should verify this by asking your solicitors. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. It is therefore important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • What are the common deficiencies that you witness in leases for Headingley properties?

    Leasehold conveyancing in Headingley is not unique. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the building
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Barnsley Building Society, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.

    I invested in buying a split level flat in Headingley, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Headingley with over 90 years remaining are worth £197,000. The ground rent is £50 per annum. The lease finishes on 21st October 2097

    You have 72 years remaining on your lease we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as costs.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Headingley