Recently asked questions relating to Middleton leasehold conveyancing
I am in need of some leasehold conveyancing in Middleton. Before I get started I require certainty as to the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Middleton - 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 own a leasehold flat in Middleton. Conveyancing and Bank of Ireland mortgage organised. 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 1997. The conveyancing practitioner in Middleton who acted for me is not around.What should I do?
The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Middleton conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you offer any advice when it comes to finding a Middleton conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Middleton conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Middleton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- What volume of lease extensions has the firm conducted in Middleton in the last twenty four months?
Do you have any advice for leasehold conveyancing in Middleton with the purpose of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Middleton can be avoided if you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation needed by the purchasers’ solicitors.
- The majority freeholders or Management Companies in Middleton levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Middleton.
What are the frequently found defects that you see in leases for Middleton properties?
Leasehold conveyancing in Middleton is not unique. All leases are unique and drafting errors can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You may 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. Yorkshire Building Society, Norwich and Peterborough Building Society, and Britannia all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.
Middleton Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing
Its a good idea to discover as much as you can regarding the company managing the block as they will affect your use and enjoyment of the property. Being a leasehold owner you will be in the clutches of the managing agents both financially and when it comes to every day issues like the upkeep of the common parts. Enquire of other tenants whether they are happy with them. Finally, be sure you discover the dates that the service charges are due to the managing agents and precisely what you get for your money.
You should be aware that where the lease has fewer than 80 years it will impact the salability of the property. It is worth checking with your bank that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will most likely require a lease extension at some point and you need to have some idea of how much this will be. Remember, in most cases you will be be obliged to have owned the property for two years before you are legally able to extend the lease.
What prohibitions exist in the Middleton Lease?