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

Get a Quote

Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Idle, 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 Idle

Having had my offer accepted I require leasehold conveyancing in Idle. Before diving in I would like to find out the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and almost all are in Idle - 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 have recently realised that I have Sixty One years left on my lease in Idle. I now wish to extend my lease but my freeholder is absent. What are my options?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to find the landlord. For most situations an enquiry agent would be helpful to try and locate and to produce an expert document which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the application to the County Court overseeing Idle.

I have just started marketing my 2 bed flat in Idle.Conveyancing has not commenced but I have just received a quarterly maintenance charge demand – what should I do?

It best that you discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I've recently bought a leasehold property in Idle. Am I liable to pay service charges for periods before my ownership?

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 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).

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

  • Much of the delay in leasehold conveyancing in Idle can be avoided where you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers lawyers.
  • The majority freeholders or managing agents in Idle levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Idle.
  • 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? Idle leases often stipulate that internal structural alterations or laying down wooden flooring require a licence from the Landlord consenting to such works. If you fail to have the consents to hand do not communicate with the landlord without checking with your conveyancer before hand.
  • If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share document. Arranging a new share certificate can be a time consuming formality and delays many a Idle home move. Where a reissued share is needed, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. It is therefore 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 premises on the market for sale.

    • I purchased a basement flat in Idle, conveyancing was carried out 2010. How much will my lease extension cost? Comparable properties in Idle with over 90 years remaining are worth £198,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease ends on 21st October 2092

    With just 67 years remaining on your lease we estimate the premium for your lease extension to range between £11,400 and £13,200 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 are not able to advice on a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Idle