Experts for Leasehold Conveyancing in Sandiacre

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

Common questions relating to Sandiacre leasehold conveyancing

Harry (my fiance) and I may need to let out our Sandiacre 1st floor flat for a while due to taking a sabbatical. We used a Sandiacre conveyancing firm in 2001 but they have closed and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?

Some leases for properties in Sandiacre do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Sandiacre. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Sandiacre ?

The majority of houses in Sandiacre are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Sandiacre so you should seriously consider looking for a Sandiacre conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your solicitor should report to you on the legal implications.

Back In 2006, I bought a leasehold flat in Sandiacre. Conveyancing and Leeds Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Sandiacre who previously acted has now retired.What should I do?

The first thing you should do is make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a Sandiacre conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of maisonettes in Sandiacre both have approximately fifty years left on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in Sandiacre is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the salability of the premises. For most purchasers and banks, leases with less than 75 years become less and less marketable. 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 Sandiacre 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 any new 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.

I've recently bought a leasehold property in Sandiacre. Do I have any liability for service charges for periods before my ownership?

In a situation 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. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

Leasehold Conveyancing in Sandiacre - Examples of Questions you should ask Prior to Purchasing

    The best form of lease structure is where the freehold reversion is owned by the leaseholders. In this situation the leaseholders enjoy being in charge if their destiny and notwithstanding that a managing agent is frequently employed where the building is bigger than a house conversion, the managing agent retained by the leaseholders. You will want to discover as much as possible about the company managing the block as they will either make your life much easier or uncomfortable. Being a leasehold owner you are frequently in the clutches of the managing agents both financially and when it comes to every day issues such as the tidiness of the communal areas. You should not be shy to ask other tenants what they think of their management. Finally, find out the dates that the service fees are due to the appropriate party and precisely how they are spending the funds. Many Sandiacre leasehold flats will incur a service charge for the upkeep of the building invoiced on behalf of the management company. If you acquire the flat you will have to pay this amount, usually quarterly during the year. This can differ from several hundred pounds to thousands of pounds for blocks with lifts and large common areas. In all probability there will be a ground rent to be met yearly, normally this is not a large amount, say around £25-£75 but you should to check as on occasion it could be prohibitively expensive.

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Lease Extensions in Sandiacre