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

If the lease is registered - and almost all are in Thornhill - then the leasehold title will always include the short particulars 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.

Having checked my lease I have discovered that there are only 68 years left on my lease in Thornhill. I am keen to get lease extension but my landlord is can not be found. What should I do?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to find the landlord. For most situations an enquiry agent may be useful to carry out a search and to produce a report which can be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Thornhill.

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 just been informed that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Thornhill. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Thornhill ?

The majority of houses in Thornhill are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Thornhill so you should seriously consider shopping around for a Thornhill conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer should advise you fully on all the issues.

What are your top tips when it comes to finding a Thornhill conveyancing firm to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Thornhill conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Thornhill conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

• How familiar is the practice with lease extension legislation?

What makes a Thornhill lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Thornhill. All leases are unique and drafting errors can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the property
• 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

You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Bank of Scotland, and Platform Home Loans Ltd all have very detailed 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 provide security, obliging the buyer to withdraw.

Leasehold Conveyancing in Thornhill - Sample of Queries Prior to Purchasing

You should be aware that where the lease has fewer than eighty years it will affect the marketability of the apartment. It is worth checking with your lender that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will probably have to extend the lease at some point and you need to have some idea of what this will be. Remember, in most cases you would be be obliged to have been the owner of the premises for two years in order to be legally able to extend the lease. How much is the ground rent and service charge? What is the name of the managing agents?

Other Topics

Lease Extensions in Thornhill