I am on look out for some leasehold conveyancing in Newton Aycliffe. Before diving in I want to be sure as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Newton Aycliffe - 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 want to sublet my leasehold apartment in Newton Aycliffe. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

A lease governs the relationship between the freeholder and you the flat owner; in particular, it will say if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Newton Aycliffe do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

Estate agents have just been given the go-ahead to market my basement flat in Newton Aycliffe.Conveyancing lawyers have not yet been instructed but I have just received a quarterly maintenance charge demand – Do I pay up?

It best that you pay 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 unless 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. This will smooth the conveyancing process.

I own a leasehold house in Newton Aycliffe. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Newton Aycliffe who acted for me is not around.Any advice?

First contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Newton Aycliffe conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

What makes a Newton Aycliffe lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Newton Aycliffe. Most leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the property
• A duty to insure the building
• 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. Halifax, Barnsley Building Society, and Britannia all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.

Newton Aycliffe Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing

Who are the managing agents? Many Newton Aycliffe leasehold flats will be liable to pay a service charge for maintenance of the building set by the management company. Should you buy the property you will have to pay this amount, normally in instalments accross the year. This may be anything from a few hundred pounds to thousands of pounds for buildings with lifts and large common grounds. There will also be a rentcharge to be met annual, this is usually not a large figure, say around £50-£100 but you should to enquire as occasionally it could be prohibitively expensive. Can you inform me if there are any major works in the near future that could add a premium to the service charges?

Other Topics

Lease Extensions in Newton Aycliffe