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While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Nottingham, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Recently asked questions relating to Nottingham leasehold conveyancing

There are only Fifty years remaining on my flat in Nottingham. I now want to extend my lease but my landlord is can not be found. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to prove that you have made all reasonable attempts to find the landlord. In some cases a specialist would be helpful to conduct investigations and prepare a report to be used as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Nottingham.

I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Nottingham. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Nottingham ?

Most houses in Nottingham are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Nottingham so you should seriously consider shopping around for a Nottingham conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your lawyer will appraise you on the various issues.

Back In 2006, I bought a leasehold flat in Nottingham. Conveyancing and Britannia mortgage organised. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Nottingham who previously acted has now retired.Do I pay?

First make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Nottingham conveyancing practitioner 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 rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two flats in Nottingham which have in the region of 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Nottingham is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. The majority of purchasers and banks, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 premises 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 Nottingham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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 the agreed 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.

Can you provide any advice for leasehold conveyancing in Nottingham from the perspective of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Nottingham can be bypassed if you instruct lawyers the minute you market your property and request that they start to collate the leasehold information needed by the buyers representatives.
  • Many freeholders or managing agents in Nottingham levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have 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 usual reason for frustration in leasehold conveyancing in Nottingham.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Nottingham leases often stipulate that internal structural changes or installing wooden flooring require a licence issued by the Landlord acquiescing to such changes. Where you dont have the consents in place you should not communicate with the landlord without checking with your lawyer first.
  • If there is a history of any disputes 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 warry about purchasing a flat where there is a current dispute. You may have to bite the bullet and pay 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 prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than unresolved.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share document. Organising a replacement share certificate can be a time consuming formality and frustrates many a Nottingham home move. Where a duplicate share is required, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.

    • I own a 1st floor flat in Nottingham, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar flats in Nottingham with a long lease are worth £215,000. The ground rent is £65 per annum. The lease comes to an end on 21st October 2099

    With 73 years left to run we estimate the premium for your lease extension to be between £10,500 and £12,000 plus professional fees.

    The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Nottingham