Having had my offer accepted I require leasehold conveyancing in Shipley. Before I get started I require certainty as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Shipley - 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.

Jane (my partner) and I may need to sub-let our Shipley garden flat for a while due to a career opportunity. We used a Shipley conveyancing practice in 2002 but they have closed and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?

Even though your last Shipley conveyancing solicitor is no longer available you can check your lease to see if you are permitted to let out the premises. The rule is that if the lease is non-specific, subletting is allowed. There may be a precondition that you are obliged to seek permission via your landlord or other appropriate person prior to subletting. This means you not allowed to sublet in the absence of first obtaining permission. Such consent is not allowed to be unreasonably turned down. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

I have just appointed agents to market my basement apartment in Shipley.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge demand – Do I pay up?

The sensible thing to do is clear 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 unless 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am tempted by the attractive purchase price for a couple of flats in Shipley which have about fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Shipley is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. For most buyers and banks, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 property 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 Shipley 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.

What advice can you give us when it comes to finding a Shipley conveyancing firm to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Shipley conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Shipley conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• If they are not ALEP accredited then why not?

Shipley Leasehold Conveyancing - Examples of Queries Prior to buying

You will want to find out as much as possible concerning the managing agents as they will either make your life much easier or much more difficult. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to daily matters like the upkeep of the communal areas. Enquire of other tenants if they are happy with them. In conclusion, investigate as to the dates that you are obliged pay the service charge to the relevant party and precisely how they are spending that money. How is the lease structured? Who are the managing agents?

Other Topics

Lease Extensions in Shipley