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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Peterlee, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Peterlee leasehold conveyancing: Q and A’s

I am in need of some leasehold conveyancing in Peterlee. Before I set the wheels in motion I would like to find out the remaining lease term.

Assuming the lease is registered - and almost all are in Peterlee - 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.

Planning to sign contracts shortly on a ground floor flat in Peterlee. Conveyancing lawyers have said that they will have a report out to me tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Peterlee should include some of the following:

  • The physical extent of the property. This will be the apartment itself but could also incorporate a roof space or basement if applicable.
  • Setting out your rights in relation to common areas in the block.For instance, does the lease include a right of way over a path or hallways?
  • Are you allowed to have a pet in the flat?
  • You should be told what constitutes a Nuisance in the lease
  • You should have a good understanding of the insurance provisions
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Peterlee please enquire of your solicitor in ahead of your conveyancing in Peterlee

    • Back In 2009, I bought a leasehold house in Peterlee. Conveyancing and Clydesdale mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Peterlee who previously acted has now retired.Do I pay?

    First make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Peterlee conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Can you provide any top tips for leasehold conveyancing in Peterlee with the purpose of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Peterlee can be bypassed where you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information which will be required by the buyers lawyers.
    • Many landlords or managing agents in Peterlee charge for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Peterlee.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a property where there is a current dispute. 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 prior to 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 clearly preferable to reveal the dispute as over as opposed to unsettled.
  • If you are supposed to have a share in the Management Company, you should ensure that you hold the original share certificate. Obtaining a replacement share certificate is often a time consuming process and delays many a Peterlee home move. Where a reissued share is needed, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is under 80 years. It is therefore essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £275000 apartment in Peterlee next week. The landlords agents has quoted £312 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Peterlee?

    Peterlee conveyancing on leasehold flats usually involves the buyer’s solicitor sending questions for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be content to do so. They may charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, without which the charge is not strictly payable. Reality however dictates that one has little option but to pay whatever is requested of you if you want to exchange contracts with the buyer.

    Leasehold Conveyancing in Peterlee - Examples of Queries Prior to Purchasing

      Where a Peterlee lease has fewer than 80 years it will affect the salability of the flat. Check with your mortgage company that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will most likely require a lease extension at some point and you need to have some idea of what this would cost. Remember, in most cases you would need to own the residence for two years before you are eligible to extend the lease. Best to be warned if fixing the lift or some other major work is pending that will be shared by the leaseholders and could well materially impact the level of the service charges or necessitate a one off payment. It would be prudent to find out as much as possible regarding the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you will be in the clutches of the managing agents both financially and when it comes to practical matters like the tidiness of the communal areas. Ask other tenants if they are happy with them. On a final note, be sure you discover the dates that the maintenance fees are due to the managing agents and specifically what it includes.

    Other Topics

    Lease Extensions in Peterlee