Fixed-fee leasehold conveyancing in Helsby:

When it comes to leasehold conveyancing in Helsby, you will need to appoint a conveyancing lawyer with leasehold experience. Whether your lender is to be Halifax, Yorkshire Building Society or Bradford & Bingley be sure to choose a lawyer on their approved list. Find a Helsby conveyancing lawyer with our search tool

Frequently asked questions relating to Helsby leasehold conveyancing

My wife and I purchased a leasehold house in Helsby. Conveyancing and Leeds Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Helsby who acted for me is not around.Any advice?

First make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to instruct a Helsby conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a two flats in Helsby both have approximately fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Helsby is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the property. For most buyers and banks, leases with less than eighty 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 property 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 a residence 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 Helsby 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.

I've recently bought a leasehold property in Helsby. Am I liable to pay service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner 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).

All being well we will complete the sale of our £300000 maisonette in Helsby on Tuesday in a week. The management company has quoted £300 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Helsby?

Helsby conveyancing on leasehold apartments more often than not involves the buyer’s solicitor sending enquiries for the landlord to address. Although the landlord is not legally bound to answer these enquiries the majority will be content to assist. They are at liberty invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it exceeds £800. The administration charge demanded by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, otherwise the charge is technically not due. In reality you have no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

What are the frequently found deficiencies that you encounter in leases for Helsby properties?

There is nothing unique about leasehold conveyancing in Helsby. Most leases are unique and drafting errors can result in certain sections are wrong. The following missing provisions could result in a defective lease:

  • A provision to repair to or maintain parts of the premises
  • A duty to insure the building
  • A provision for the recovery of money spent for the benefit of another party.
  • 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 primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Virgin Money, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.

Helsby Conveyancing for Leasehold Flats - Examples of Queries before Purchasing

    Does the lease have onerous restrictions? Is anyone aware of any major works on the horizon that will add a premium to the maintenance costs? It is important to be aware if redecorating or some other major work is due in the foreseeable future that will be shared by the leaseholders and will dramatically impact the level of the service costs or result in a specific payment.

Other Topics

Lease Extensions in Helsby