I am on look out for some leasehold conveyancing in Morley. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and most are in Morley - 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 have recently realised that I have 72 years left on my flat in Morley. I now want to extend my lease but my landlord is can not be found. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to prove that you have made all reasonable attempts to locate the landlord. In some cases an enquiry agent may be helpful to carry out a search and prepare a report to be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Morley.

Looking forward to sign contracts shortly on a basement flat in Morley. Conveyancing solicitors assured me that they report fully within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Morley should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

I am looking at a couple of apartments in Morley which have about forty five years unexpired on the lease term. Will this present a problem?

A lease is a right to use the property for a period of time. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena

Are there frequently found defects that you come across in leases for Morley properties?

Leasehold conveyancing in Morley is not unique. Most leases are unique and drafting errors can result in certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the property
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Chelsea Building Society, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.

Leasehold Conveyancing in Morley - Examples of Questions you should ask Prior to Purchasing

Many Morley leasehold flats will incur a service bill for the upkeep of the building levied on behalf of the freeholder. If you purchase the flat you will have to meet this charge, normally quarterly accross the year. This may differ from two or three hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent for you to pay annual, ordinarily this is not a significant sum, say around £50-£100 but you should to enquire as occasionally it can be surprisingly expensive. Its a good idea to find out as much as possible about the managing agents as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to day to day issues such as the tidiness of the common parts. Ask other tenants if they are happy with them. In conclusion, be sure you know the dates that you are obliged pay the service charge to the managing agents and precisely what it includes. How many years are left on the lease?

Other Topics

Lease Extensions in Morley