Fixed-fee leasehold conveyancing in Lanchester:

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Recently asked questions relating to Lanchester leasehold conveyancing

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

If the lease is registered - and most are in Lanchester - 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.

Last month I purchased a leasehold house in Lanchester. 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).

I work for a busy estate agent office in Lanchester where we have witnessed a few flat sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Lanchester conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can commence the lease extension process 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as 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 Lanchester with the aim of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Lanchester can be bypassed where you get in touch lawyers as soon as you market your property and ask them to put together the leasehold information needed by the buyers solicitors.
  • If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Lanchester leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord approving such works. Should you dont have the paperwork in place you should not communicate with the landlord without contacting your lawyer in the first instance.
  • A minority of Lanchester leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any 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 lawyers.
  • If you hold a share in a the freehold, you should ensure that you are holding the original share document. Obtaining a new share certificate can be a time consuming process and slows down many a Lanchester conveyancing transaction. If a reissued share is needed, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but you should double-check by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is below 75 years. In the circumstances it is 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 property on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £400000 garden flat in Lanchester on Wednesday in a week. The landlords agents has quoted £360 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Lanchester?

    Lanchester conveyancing on leasehold maisonettes normally involves the buyer’s lawyer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to answer such questions the majority will be willing to assist. They may charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality you have little option but to pay whatever is requested of you if you want to exchange contracts with the buyer.

    Lanchester Leasehold Conveyancing - A selection of Queries Prior to Purchasing

      How much is the ground rent and service charge? Does the lease include onerous restrictions? Please inform me if there are any major works in the near future that could increase the service fees?

    Other Topics

    Lease Extensions in Lanchester