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Top Five Questions relating to Holywell leasehold conveyancing

I am hoping to exchange soon on a basement flat in Holywell. Conveyancing solicitors have said that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

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

  • The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
  • You need to be told what constitutes a Nuisance in the lease
  • Changes to the flat (alterations and additions)
  • 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.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Holywell please ask your solicitor in advance of your conveyancing in Holywell

    • My wife and I purchased a leasehold house in Holywell. Conveyancing and Skipton Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Holywell who acted for me is not around.Do I pay?

    The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. There is no need to instruct a Holywell conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I've recently bought a leasehold property in Holywell. Do I have any liability for service charges relating to a period prior to my ownership?

    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).

    Can you offer any advice when it comes to appointing a Holywell conveyancing practice to deal with our lease extension?

    When appointing a conveyancer for your lease extension (regardless if they are a Holywell conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Holywell conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

    • Can they put you in touch with client in Holywell who can give a testimonial?
  • What are the costs for lease extension work?

    • Do you have any top tips for leasehold conveyancing in Holywell with the intention of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Holywell can be reduced where you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ solicitors.
    • In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Holywell state that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such works. Where you dont have the paperwork to hand you should not contact the landlord without checking with your solicitor in advance.
  • Some Holywell leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (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 buyers or their lawyers.
  • If you have had conflict with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a flat where a dispute is ongoing. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to ongoing.
  • If you hold a share in a the Management Company, you should ensure that you have the original share document. Arranging a duplicate share certificate can be a time consuming formality and delays many a Holywell home move. Where a reissued share certificate is required, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.

    • I inherited a ground floor flat in Holywell, conveyancing formalities finalised 8 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Holywell with a long lease are worth £212,000. The ground rent is £60 invoiced every year. The lease ends on 21st October 2099

    With only 74 years remaining on your lease the likely cost is going to be 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 extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Holywell