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

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Hull East leasehold conveyancing: Q and A’s

Having had my offer accepted I require leasehold conveyancing in Hull East. Before diving in I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Hull East - 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 today plan to offer on a house that appears to be perfect, at a great price which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Hull East. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Hull East ?

The majority of houses in Hull East are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Hull East so you should seriously consider looking for a Hull East conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your lawyer will report to you on the legal implications.

Last month I purchased a leasehold house in Hull East. Do I have any liability for service charges relating to a period prior to 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).

What are your top tips when it comes to choosing a Hull East conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Hull East conveyancing firm) it is essential 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 Hull East conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

  • How familiar is the firm with lease extension legislation?
  • What are the legal fees for lease extension work?

    • Can you provide any top tips for leasehold conveyancing in Hull East from the point of view of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Hull East can be avoided where you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the buyers solicitors.
    • If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you installed wooden flooring? Hull East leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord consenting to such alterations. If you fail to have the consents to hand you should not communicate with the landlord without contacting your solicitor in the first instance.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle 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 details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to unsettled.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share certificate. Organising a replacement share certificate can be a time consuming formality and frustrates many a Hull East home move. Where a reissued share is needed, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but you should verify this via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 75 years. In the circumstances it is important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I purchased a basement flat in Hull East, conveyancing having been completed in 2003. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Hull East with a long lease are worth £170,000. The ground rent is £60 levied per year. The lease runs out on 21st October 2097

    With 72 years left to run we estimate the price of your lease extension to range between £11,400 and £13,200 as well as professional fees.

    The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Hull East