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Sample questions relating to Thorpe Hesley leasehold conveyancing

Having checked my lease I have discovered that there are only 72 years remaining on my lease in Thorpe Hesley. I now want to extend my lease but my landlord is missing. 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 enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the landlord. In some cases an enquiry agent should be helpful to conduct investigations 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 property lawyer both on proving the landlord’s absence and the application to the County Court covering Thorpe Hesley.

I've found a house that seems to be perfect, at a great price which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Thorpe Hesley. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

The majority of houses in Thorpe Hesley are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Thorpe Hesley in which case you should be looking for a Thorpe Hesley conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will report to you on the legal implications.

I am employed by a long established estate agency in Thorpe Hesley where we have experienced a number of flat sales jeopardised as a result of short leases. I have been given contradictory information from local Thorpe Hesley conveyancing solicitors. Can you clarify whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Do you have any advice for leasehold conveyancing in Thorpe Hesley with the purpose of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Thorpe Hesley can be bypassed where you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ lawyers.
  • The majority freeholders or managing agents in Thorpe Hesley charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Thorpe Hesley.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Thorpe Hesley leases often stipulate that internal structural changes or installing wooden flooring calls for a licence from the Landlord approving such changes. Where you dont have the approvals in place you should not communicate with the landlord without contacting your conveyancer in the first instance.
  • A minority of Thorpe Hesley leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you hold a share in a the freehold, you should make sure that you have the original share document. Organising a new share certificate can be a time consuming formality and frustrates many a Thorpe Hesley home move. Where a duplicate share certificate is necessary, do contact the company officers or managing agents (if relevant) for this as soon as possible.

    • What are the common deficiencies that you encounter in leases for Thorpe Hesley properties?

    Leasehold conveyancing in Thorpe Hesley is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses 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 premises
    • 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 could 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, Norwich and Peterborough Building Society, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    I inherited a garden flat in Thorpe Hesley, conveyancing formalities finalised 2012. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Thorpe Hesley with over 90 years remaining are worth £234,000. The ground rent is £60 yearly. The lease runs out on 21st October 2097

    With just 72 years remaining on your lease the likely cost is going to be between £10,500 and £12,000 as well as legals.

    The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Thorpe Hesley