Planning to complete next month on a garden flat in Hebden Bridge. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

• You should be sent a copy of the lease

I am looking at a couple of maisonettes in Hebden Bridge both have about forty five years left on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Hebden Bridge. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the saleability of the lease deteriorate and it becomes more expensive 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 as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena

I've recently bought a leasehold flat in Hebden Bridge. Am I liable to pay service charges for periods before 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. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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 am a negotiator for a reputable estate agent office in Hebden Bridge where we see a few leasehold sales put at risk due to leases having less than 80 years remaining. I have received contradictory information from local Hebden Bridge conveyancing solicitors. Can you confirm whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

As long as 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. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible 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.

In relation to leasehold conveyancing in Hebden Bridge what are the most frequent lease problems?

Leasehold conveyancing in Hebden Bridge is not unique. Most leases are individual and drafting errors can result in certain clauses are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Norwich and Peterborough Building Society, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.

Leasehold Conveyancing in Hebden Bridge - Sample of Questions you should ask Prior to buying

What prohibitions exist in the Hebden Bridge Lease? What is the annual maintenance fee and ground rent? You should be aware if it is no more than eighty years it will affect the salability of the apartment. It is worth checking with your lender that they are content with remaining years on the lease. A short lease means that you will probably require a lease extension at some point and you need to have some idea of what this will be. Remember, in most cases you will be be obliged to have owned the property for a couple of years in order to be entitled to extend the lease.

Other Topics

Lease Extensions in Hebden Bridge