Fixed-fee leasehold conveyancing in Sedgefield:

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Recently asked questions relating to Sedgefield leasehold conveyancing

I am in need of some leasehold conveyancing in Sedgefield. Before diving in I would like to find out the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and most are in Sedgefield - 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.

I've found a house that appears to be perfect, at a reasonable price which is making it more attractive. I have subsequently discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Sedgefield. Conveyancing advisers have not yet been appointed. Will they explain the issues?

The majority of houses in Sedgefield are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Sedgefield in which case you should be looking for a Sedgefield conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your lawyer should advise you fully on all the issues.

Back In 2008, I bought a leasehold flat in Sedgefield. Conveyancing and Yorkshire Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Sedgefield who previously acted has long since retired.Any advice?

The first thing you should do is contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Sedgefield conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Do you have any top tips for leasehold conveyancing in Sedgefield with the purpose of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Sedgefield can be avoided where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the buyers representatives.
  • The majority landlords or managing agents in Sedgefield levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Sedgefield.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Sedgefield state that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. Where you fail to have the approvals to hand do not communicate with the landlord without checking with your lawyer in advance.
  • Some Sedgefield leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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 there is a history of any disputes 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 reluctant to purchase a flat where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as over rather than ongoing.

    • Are there common problems that you encounter in leases for Sedgefield properties?

    Leasehold conveyancing in Sedgefield is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the building
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Bank of Scotland, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

    Sedgefield Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying

      Who are the managing agents? Does the lease include onerous restrictions? In the main the cost for major works are not included within maintenance charges, albeit that some managing agents in Sedgefield ask leaseholders to pay into a reserve fund created for the specific purpose of building a fund for larger repairs or maintenance.

    Other Topics

    Lease Extensions in Sedgefield