Fixed-fee leasehold conveyancing in Norton Woodseats:

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Top Five Questions relating to Norton Woodseats leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Norton Woodseats. Before I get started I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Norton Woodseats - 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 have just appointed agents to market my garden apartment in Norton Woodseats.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge demand – what should I do?

It best that you pay the invoice 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it all the more appealing. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Norton Woodseats. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Norton Woodseats ?

The majority of houses in Norton Woodseats are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Norton Woodseats in which case you should be shopping around for a Norton Woodseats conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer should advise you fully on all the issues.

I own a leasehold house in Norton Woodseats. Conveyancing and Leeds Building Society mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Norton Woodseats who acted for me is not around.Any advice?

First make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Norton Woodseats conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Can you provide any advice for leasehold conveyancing in Norton Woodseats with the purpose of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Norton Woodseats can be reduced if you get in touch lawyers the minute your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ conveyancers.
  • If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Norton Woodseats state that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord acquiescing to such alterations. If you dont have the approvals in place do not communicate with the landlord without checking with your conveyancer in the first instance.
  • A minority of Norton Woodseats leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain 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 purchasers or their solicitors.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. 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 details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic as opposed to unresolved.
  • You may think that you are aware of the number of years left on your lease but you should double-check by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. It is therefore essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I acquired a split level flat in Norton Woodseats, conveyancing having been completed in 2012. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Norton Woodseats with an extended lease are worth £200,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease expires on 21st October 2088

    With just 62 years remaining on your lease the likely cost is going to be between £18,100 and £20,800 as well as legals.

    The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Norton Woodseats