Fixed-fee leasehold conveyancing in Idle:

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Questions and Answers: Idle leasehold conveyancing

I am on look out for some leasehold conveyancing in Idle. Before diving in I want to be sure as to the unexpired term of the lease.

If the lease is registered - 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 Seventy years remaining on my flat in Idle. I am keen to get lease extension but my freeholder is absent. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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 Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to track down the freeholder. On the whole an enquiry agent should be helpful to try and locate and prepare a report to be used as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the application to the County Court covering Idle.

I have just started marketing my 2 bed apartment in Idle.Conveyancing solicitors are to be appointed soon but I have just had a yearly service charge invoice – Do I pay up?

It best that you discharge the invoice 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 managing agents will not acknowledge the buyer unless 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 work for a busy estate agency in Idle where we have witnessed a number of flat sales jeopardised as a result of short leases. I have received inconsistent advice from local Idle conveyancing solicitors. Can you clarify whether the owner of a flat can initiate the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Do you have any advice for leasehold conveyancing in Idle with the purpose of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Idle can be avoided if you appoint lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information which will be required by the purchasers’ representatives.
  • The majority freeholders or managing agents in Idle levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Idle.
  • If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Idle state that internal structural changes or installing wooden flooring necessitate a licence from the Landlord acquiescing to such works. If you dont have the paperwork in place you should not contact the landlord without contacting your conveyancer first.
  • Some Idle leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly 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 solicitors.
  • You believe that you know the number of years left on your lease but you should double-check via your solicitors. A purchaser's lawyer will not be happy to advise their client to where the lease term is below 75 years. It is therefore essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Leasehold Conveyancing in Idle - A selection of Queries before Purchasing

      The prefered form of lease arrangement is where the freehold title is in the ownership of the leaseholders. In this situation the leaseholders benefit from control and notwithstanding that a managing agent is frequently employed if it is larger than a house conversion, the managing agent acts for the leaseholders themselves. Does the lease include onerous restrictions? Who are the managing agents?

    Other Topics

    Lease Extensions in Idle