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

When it comes to leasehold conveyancing in Ponteland, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Halifax, RBS or Bradford & Bingley be sure to choose a lawyer on their panel. Find a Ponteland conveyancing lawyer with our search tool

Common questions relating to Ponteland leasehold conveyancing

I wish to let out my leasehold apartment in Ponteland. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Even though your previous Ponteland conveyancing solicitor is not around you can check your lease to see if it allows you to sublet the premises. The accepted inference is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you must seek consent from your landlord or other appropriate person in advance of subletting. This means you not allowed to sublet in the absence of prior permission. The consent should not be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

I’m about to sell my ground floor flat in Ponteland.Conveyancing has not commenced but I have just had a yearly maintenance charge invoice – what should I do?

It best that you discharge the service charge 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 until 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. This will smooth the conveyancing process.

I've recently bought a leasehold house in Ponteland. Do I have any liability for service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What advice can you give us when it comes to choosing a Ponteland conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Ponteland conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Ponteland conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

  • How experienced is the practice with lease extension legislation?
  • How many lease extensions have they carried out in Ponteland in the last year?

  • What makes a Ponteland lease problematic?

    Leasehold conveyancing in Ponteland is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the building
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You could encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Norwich and Peterborough Building Society, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.

    I invested in buying a 1 bedroom flat in Ponteland, conveyancing was carried out in 1998. Can you work out an approximate cost of a lease extension? Comparable properties in Ponteland with a long lease are worth £172,000. The average or mid-range amount of ground rent is £60 per annum. The lease terminates on 21st October 2080

    With 55 years remaining on your lease we estimate the price of your lease extension to span between £28,500 and £33,000 as well as legals.

    The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.

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    Lease Extensions in Ponteland