I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Ossett. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

The majority of houses in Ossett are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Ossett so you should seriously consider shopping around for a Ossett conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your lawyer should report to you on the legal implications.

I own a leasehold house in Ossett. Conveyancing and Britannia mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Ossett who previously acted has long since retired.Do I pay?

The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a Ossett conveyancing firm to do this as it can be done on-line for £3. 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.

I am tempted by the attractive purchase price for a two flats in Ossett which have about fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the marketability of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this arena

Can you provide any top tips for leasehold conveyancing in Ossett from the point of view of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Ossett can be bypassed if you appoint lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the buyers lawyers.
• If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Ossett leases often stipulate that internal structural changes or addition of wooden flooring require a licence issued by the Landlord approving such changes. Where you fail to have the consents in place you should not communicate with the landlord without contacting your conveyancer before hand.

Some Ossett leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 lawyers.

If you have had conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride 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 ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as over rather than unsettled.

If you are supposed to have a share in the freehold, you should ensure that you hold the original share certificate. Arranging a re-issued share certificate is often a time consuming formality and frustrates many a Ossett conveyancing deal. Where a new share certificate is required, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later.

We expect to complete our sale of a £500000 garden flat in Ossett next Monday . The management company has quoted £372 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Ossett?

Ossett conveyancing on leasehold maisonettes ordinarily necessitates administration charges raised by managing agents :

• Completing pre-exchange enquiries
• Where consent is required before sale in Ossett
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Ossett leasehold property is £350. For Ossett conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

Ossett Leasehold Conveyancing - Sample of Questions you should consider Prior to Purchasing

Does the lease contain onerous restrictions? Are any of leasehold owners in dispute over their service charge payments? The answer will be useful as a) areas could cause problems for the block as the communal areas may start to deteriorate if maintenance remain unpaid b) if the tenants have an issue with the running of the building you will wish to know about it

Other Topics

Lease Extensions in Ossett