Leasehold Conveyancing in Holsworthy - Get a Quote from the leasehold experts approved by your lender

While any conveyancing practice can theoretically handle your leasehold conveyancing in Holsworthy, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in Holsworthy

Having checked my lease I have discovered that there are only 68 years unexpired on my lease in Holsworthy. I now wish to get lease extension but my freeholder is can not be found. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you have done all that could be expected to locate the freeholder. For most situations an enquiry agent should be useful to conduct investigations and to produce a report which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor both on devolving into the landlord’s absence and the application to the County Court overseeing Holsworthy.

Expecting to sign contracts shortly on a garden flat in Holsworthy. Conveyancing lawyers 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 Holsworthy should include some of the following:

  • You should be sent a copy of the lease
  • The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
  • Are pets allowed in the flat?
  • Whether your lease has a provision for a sinking 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 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
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Holsworthy please enquire of your solicitor in advance of your conveyancing in Holsworthy

  • Back In 2008, I bought a leasehold house in Holsworthy. Conveyancing and Britannia mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Holsworthy who acted for me is not around.Do I pay?

    First contact HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Holsworthy conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I've recently bought a leasehold house in Holsworthy. 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 ensure 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).

    Can you provide any top tips for leasehold conveyancing in Holsworthy with the aim of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Holsworthy can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation needed by the purchasers’ conveyancers.
    • Many freeholders or Management Companies in Holsworthy levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Holsworthy.
  • A minority of Holsworthy leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet 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 lawyers.
  • If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as over rather than unresolved.
  • If you have the benefit of shareholding in the freehold, you should make sure that you have the original share document. Arranging a re-issued share certificate is often a time consuming formality and delays many a Holsworthy home move. If a new share is needed, you should approach the company officers or managing agents (if applicable) for this as soon as possible.

  • I acquired a garden flat in Holsworthy, 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? Corresponding properties in Holsworthy with over 90 years remaining are worth £219,000. The ground rent is £55 per annum. The lease expires on 21st October 2101

    With 79 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.

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    Lease Extensions in Holsworthy