I am hoping to complete next month on a basement flat in Holmfirth. Conveyancing solicitors inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Holmfirth should include some of the following:

• You should be sent a copy of the lease

Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has

Whether your lease has a provision for a reserve fund?

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 rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.

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 details of the information to be contained in your report on your leasehold property in Holmfirth please ask your lawyer in advance of your conveyancing in Holmfirth

I today plan to offer on a house that appears to meet my requirements, at a great price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Holmfirth. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Holmfirth ?

The majority of houses in Holmfirth are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Holmfirth in which case you should be shopping around for a Holmfirth conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your conveyancer will advise you fully on all the issues.

Can you provide any top tips for leasehold conveyancing in Holmfirth from the perspective of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Holmfirth can be avoided if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the buyers solicitors.
• If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Holmfirth leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence from the Landlord approving such changes. If you fail to have the approvals in place do not communicate with the landlord without contacting your solicitor in advance.

If there is a history of conflict with your landlord or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be concerned about purchasing a property where a dispute is unresolved. You may need to swallow your pride and discharge 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 ahead of 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 clearly preferable to reveal the dispute as historic rather than ongoing.

If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share certificate. Obtaining a duplicate share certificate is often a time consuming process and slows down many a Holmfirth home move. If a reissued share is required, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.

You believe that you know the number of years left on your lease but it would be wise to double-check by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to where the remaining number of years is below 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

If all goes to plan we aim to complete our sale of a £275000 maisonette in Holmfirth next week. The freeholder has quoted £360 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Holmfirth?

For most leasehold sales in Holmfirth conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Answering conveyancing due diligence questions
• Where consent is required before sale in Holmfirth
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Holmfirth leasehold property is £350. For Holmfirth 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 answers.

Are there frequently found defects that you see in leases for Holmfirth properties?

There is nothing unique about leasehold conveyancing in Holmfirth. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• 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

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Chelsea Building Society, and Britannia all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to pull out.

Holmfirth Leasehold Conveyancing - Examples of Queries Prior to Purchasing

The prefered form of lease arrangement is a share of the freehold. In this scenario the tenants benefit from control and notwithstanding that a managing agent is usually retained where it is bigger than a house conversion, the managing agent employed by the leaseholders. Please note that where the lease has no more than eighty years it will have adverse implications on the value of the apartment. Check with your bank that they are happy with residual term of the lease. Leases with less than 80 years remaining means that you will most likely need a lease extension at some point and you need to have some idea of how much this would cost. Remember, in most cases you would be be obliged to have been the owner of the residence for a couple of years before you are eligible to carry out a lease extension. What restrictions are there in the Holmfirth Lease?

Other Topics

Lease Extensions in Holmfirth