I am on look out for some leasehold conveyancing in Moor Row. Before I get started I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Moor Row - 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.

I wish to let out my leasehold apartment in Moor Row. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Notwithstanding that your last Moor Row conveyancing solicitor is no longer available you can check your lease to see if it allows you to sublet the premises. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to obtain consent via your landlord or other appropriate person before subletting. This means you not allowed to sublet without prior consent. Such consent is not allowed to be unreasonably refused ore delayed. If your lease does not allow you to sublet you should ask your landlord for their consent.

Back In 2005, I bought a leasehold flat in Moor Row. Conveyancing and Virgin Money mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Moor Row who previously acted has long since retired.Any advice?

First contact the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Moor Row conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a two apartments in Moor Row which have in the region of 50 years remaining on the leases. Will this present a problem?

There is no doubt about it. A leasehold flat in Moor Row is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the salability of the property. The majority of purchasers and mortgage companies, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Moor Row conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Do you have any top tips for leasehold conveyancing in Moor Row with the purpose of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Moor Row can be reduced where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers conveyancers.
• Many freeholders or Management Companies in Moor Row charge for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Moor Row.
• If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example installed wooden flooring? Moor Row leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord approving such works. Where you dont have the approvals in place you should not communicate with the landlord without contacting your lawyer before hand.
• A minority of Moor Row leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
• If you have had any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to 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 will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than unsettled.

Moor Row Leasehold Conveyancing - Sample of Queries Prior to buying

Be sure to investigate if the the lease includes any onerous restrictions in the lease. By way of example plenty of leases prohibit pets being permitted in in a block in Moor Row. If you like the flatin Moor Row but your dog can’t live with you then you will be presented with a difficult choice. Who are the managing agents?