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Creekmouth leasehold conveyancing Example Support Desk Enquiries

Back In 2004, I bought a leasehold flat in Creekmouth. Conveyancing and Yorkshire Building Society mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Creekmouth who previously acted has long since retired.Any advice?

First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a Creekmouth conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a two flats in Creekmouth both have in the region of fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the value of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena

What are your top tips when it comes to appointing a Creekmouth conveyancing practice to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Creekmouth conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Creekmouth conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • If they are not ALEP accredited then what is the reason?
  • What are the costs for lease extension conveyancing?

  • Can you provide any top tips for leasehold conveyancing in Creekmouth with the aim of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Creekmouth can be reduced if you appoint lawyers as soon as you market your property and ask them to put together the leasehold information needed by the purchasers’ representatives.
    • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Creekmouth leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord acquiescing to such works. Where you dont have the consents to hand you should not contact the landlord without contacting your solicitor in the first instance.
  • If you have had any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as historic rather than ongoing.
  • If you are supposed to have a share in the freehold, you should ensure that you are holding the original share document. Organising a replacement share certificate is often a time consuming process and delays many a Creekmouth home move. If a new share certificate is necessary, 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 it would be wise to verify this by asking your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

  • We have reached the end of our tether in seeking a lease extension in Creekmouth. Can this matter be resolved via the Leasehold Valuation Tribunal?

    if there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to arrive at the price payable.

    An example of a Lease Extension matter before the tribunal for a Creekmouth property is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 69.77 years.

    When it comes to leasehold conveyancing in Creekmouth what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in Creekmouth. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Barnsley Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to pull out.

    Other Topics

    Lease Extensions in Creekmouth