Guaranteed fixed fees for Leasehold Conveyancing in Lancaster

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When it comes to leasehold conveyancing in Lancaster, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Santander, RBS or Nationwide be sure to choose a lawyer on their approved list. Feel free to use our search tool

Lancaster leasehold conveyancing: Q and A’s

I am in need of some leasehold conveyancing in Lancaster. Before I get started I would like to find out the remaining lease term.

If the lease is registered - and almost all are in Lancaster - then the leasehold title will always include the basic details 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've recently bought a leasehold house in Lancaster. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation 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. 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).

I am employed by a long established estate agent office in Lancaster where we see a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Lancaster conveyancing firms. Can you clarify whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have 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 disposal of the property.

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 Lancaster with the purpose of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Lancaster can be avoided if you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the buyers representatives.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Lancaster state that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord acquiescing to such works. Where you fail to have the approvals to hand do not contact the landlord without contacting your lawyer in the first instance.
  • A minority of Lancaster leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share document. Organising a re-issued share certificate can be a lengthy process and delays many a Lancaster conveyancing deal. If a duplicate share is needed, do contact the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your solicitors. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 75 years. It is therefore essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • In relation to leasehold conveyancing in Lancaster what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in Lancaster. All leases is drafted differently and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the premises
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Leeds Building Society, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.

    Leasehold Conveyancing in Lancaster - Sample of Queries before buying

      Generally speaking the outlay for major works are not included within service charges, although there some managing agents in Lancaster require leasehold owners to contribute towards a reserve fund created for the specific purpose of building a fund for major repairs or maintenance. Best to be warned whether redecorating or some other significant cost is pending that will be shared by the leaseholders and will dramatically increase the the service costs or result in a specific payment. Does the lease contain onerous restrictions?

    Other Topics

    Lease Extensions in Lancaster