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

Get a Quote

Require a conveyancing quote from a solicitor for leasehold conveyancing in Horbury on your lender’s panel? Use our search tool to find quality local Horbury conveyancing lawyers or nationwide solicitors on your lender’s panel .

Top Five Questions relating to Horbury leasehold conveyancing

I am on look out for some leasehold conveyancing in Horbury. Before diving in I require certainty as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and almost all are in Horbury - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I would like to sublet my leasehold flat in Horbury. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

A small minority of properties in Horbury do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

Last month I purchased a leasehold property in Horbury. Do I have any liability for 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. However, 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 choosing a Horbury conveyancing firm to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Horbury conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Horbury conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • How familiar is the practice with lease extension legislation?
  • Can they put you in touch with client in Horbury who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Horbury from the point of view of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Horbury can be bypassed where you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ solicitors.
    • The majority landlords or managing agents in Horbury charge for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Horbury.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be nervous about purchasing a property where a dispute is unsettled. You will have to accept that you will have to discharge any arrears of service charge or settle 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 are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than unresolved.
  • If you hold a share in a the Management Company, you should ensure that you are holding the original share document. Organising a re-issued share certificate can be a time consuming process and slows down many a Horbury conveyancing transaction. If a reissued share is required, do contact the company officers or managing agents (where relevant) for this as soon as possible.
  • You believe that you know the number of years left on your lease but you should verify this by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 75 years. It is therefore essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I own a ground floor flat in Horbury, conveyancing having been completed 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? Equivalent flats in Horbury with a long lease are worth £264,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease terminates on 21st October 2084

    You have 59 years remaining on your lease we estimate the price of your lease extension to range between £26,600 and £30,800 plus professional fees.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Horbury