Leasehold Conveyancing in Peterlee - Get a Quote from the leasehold experts approved by your lender

When it comes to leasehold conveyancing in Peterlee, you will need to chose a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Lloyds, Yorkshire Building Society or NatWest be sure to choose a lawyer on their panel. Find a Peterlee conveyancing lawyer with our search tool

Common questions relating to Peterlee leasehold conveyancing

I am in need of some leasehold conveyancing in Peterlee. Before diving in I require certainty as to the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Peterlee - 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.

My husband and I may need to let out our Peterlee basement flat temporarily due to a career opportunity. We instructed a Peterlee conveyancing firm in 2001 but they have closed and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your last Peterlee conveyancing solicitor is not around you can review your lease to see if you are permitted to let out the premises. The accepted inference is that if the lease is silent, subletting is allowed. There may be a precondition that you are obliged to seek consent from your landlord or other appropriate person prior to subletting. This means you not allowed to sublet without first obtaining consent. Such consent is not allowed to be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

Back In 2003, I bought a leasehold house in Peterlee. Conveyancing and Halifax mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Peterlee who previously acted has now retired.What should I do?

The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Peterlee conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

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

  • Much of the delay in leasehold conveyancing in Peterlee can be avoided if you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information needed by the buyers solicitors.
  • The majority freeholders or managing agents in Peterlee levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information 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 common cause of delay in leasehold conveyancing in Peterlee.
  • A minority of Peterlee leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet the yearly 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 are supposed to have a share in the Management Company, you should ensure that you hold the original share document. Obtaining a duplicate share certificate is often a lengthy process and frustrates many a Peterlee home move. Where a reissued share is necessary, you should approach the company officers or managing agents (if relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is under 75 years. In the circumstances it is important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

  • When it comes to leasehold conveyancing in Peterlee what are the most common lease defects?

    There is nothing unique about leasehold conveyancing in Peterlee. Most leases are individual and drafting errors can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the premises
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Virgin Money, and Clydesdale all have very detailed conveyancing instructions 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, obliging the buyer to pull out.

    Leasehold Conveyancing in Peterlee - Sample of Queries Prior to buying

      Best to be warned whether a new roof is being put on or some other major work is coming up that will be shared amongst the leaseholders and will dramatically impact the level of the service fees or necessitate a specific payment. How many of the leaseholders are in arrears for their maintenance charge payments? Make sure you investigate if there is anything that is prohibited in the lease. By way of example some leases prohibit pets being allowed in in a block in Peterlee. If you love the flatin Peterlee but your cat can’t move with you then you have a very difficult choice.

    Other Topics

    Lease Extensions in Peterlee