You should [be sent a copy of the lease|receive a copy of the lease]

Planning to sign contracts shortly on a basement flat in Market Weighton. Conveyancing solicitors have said that they report fully on Monday. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Market Weighton should include some of the following:

• The physical extent of the property. This will be the property itself but may include a roof space or basement if appropriate.
• Do you need to have carpet in the flat or are you allowed wood flooring?
• Does the lease prevent you from letting out the property, or having a home office for business
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Whether your lease has a provision for a reserve fund?
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
• Responsibility for repairing the window frames

For a comprehensive list of information to be contained in your report on your leasehold property in Market Weighton please enquire of your solicitor in advance of your conveyancing in Market Weighton

I have just appointed agents to market my basement flat in Market Weighton.Conveyancing has not commenced but I have just received a quarterly service charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should 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. Having a clear account will assist your cause and will leave you no worse off financially.

I own a leasehold flat in Market Weighton. Conveyancing and Nationwide 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 ground rent demand for rent dating back to 1995. The conveyancing practitioner in Market Weighton who previously acted has long since retired.Do I pay?

First contact HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Market Weighton conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a couple of flats in Market Weighton both have about forty five years left on the lease term. Will this present a problem?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the value of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area

Do you have any advice for leasehold conveyancing in Market Weighton with the aim of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Market Weighton can be bypassed where you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ solicitors.
• In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Market Weighton leases often stipulate that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord acquiescing to such changes. Where you dont have the paperwork in place do not contact the landlord without checking with your conveyancer before hand.
• A minority of Market Weighton leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are 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 lawyers.
• If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be warry about purchasing a flat where there is a current dispute. You may need to swallow your pride and discharge 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 ahead of 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 clearly preferable to reveal the dispute as over rather than ongoing.
• You believe that you know the number of years left on your lease but it would be advisable double-check by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is less than 80 years. It is therefore essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

I am the registered owner of a 1 bedroom flat in Market Weighton, conveyancing was carried out 8 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Market Weighton with an extended lease are worth £215,000. The ground rent is £55 per annum. The lease comes to an end on 21st October 2080

You have 54 years remaining on your lease we estimate the price of your lease extension to be between £28,500 and £33,000 as well as legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.