Fixed-fee leasehold conveyancing in Thornaby:

Whether you are buying or selling leasehold flat in Thornaby, our panel of leasehold conveyancing experts will help you move with as little stress as possible. Find a Thornaby conveyancing lawyer with our search tool

Thornaby leasehold conveyancing: Q and A’s

I have recently realised that I have 72 years remaining on my lease in Thornaby. I now want to get lease extension but my landlord is absent. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have used your best endeavours to find the freeholder. In some cases an enquiry agent should be useful to carry out a search and prepare an expert document which can be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s absence and the application to the County Court covering Thornaby.

I’m about to sell my garden flat in Thornaby.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge demand – should I leave it to the buyer to sort out?

It best that you clear the invoice 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 managing agents 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. This will smooth the conveyancing process.

I am looking at a two flats in Thornaby both have about forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Thornaby. The lease is a right to use the property for a period of time. As a lease shortens the value of the lease reduces and it becomes more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area

What are your top tips when it comes to choosing a Thornaby conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a Thornaby conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Thornaby conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

  • How familiar is the practice with lease extension legislation?
  • If they are not ALEP accredited then why not?

  • What are the frequently found deficiencies that you see in leases for Thornaby properties?

    Leasehold conveyancing in Thornaby is not unique. Most leases is drafted differently and drafting errors can result in certain provisions are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair 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

    A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Chelsea Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

    Thornaby Leasehold Conveyancing - A selection of Queries Prior to Purchasing

      How is the lease structured? You should want to find out as much as possible about the company managing the building as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents from a financial perspective and when it comes to every day matters like the cleanliness of the common parts. Ask other tenants what they think of them. Finally, investigate as to the dates that the maintenance fees are due to the managing agents and precisely what it includes. This question is helpful as a) areas can result in problems in the building as the common areas may begin to deteriorate where services are not paid for b) if the leasehold owners have a dispute with the managing agents you will want to know about it

    Other Topics

    Lease Extensions in Thornaby