Fixed-fee leasehold conveyancing in Tibshelf:

When it comes to leasehold conveyancing in Tibshelf, you will need to appoint a conveyancing practitioner with leasehold experience. Whether your lender is to be Clydesdale , RBS or Nationwide be sure to choose a lawyer on their panel. Find a Tibshelf conveyancing lawyer with our search tool

Questions and Answers: Tibshelf leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Tibshelf. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and most are in Tibshelf - 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.

I work for a reputable estate agent office in Tibshelf where we see a number of flat sales jeopardised due to short leases. I have been given conflicting advice from local Tibshelf conveyancing solicitors. Please can you clarify whether the vendor of a flat can instigate the lease extension process for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

An alternative approach is 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.

What are your top tips when it comes to appointing a Tibshelf conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Tibshelf conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Tibshelf conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • Can they put you in touch with client in Tibshelf who can give a testimonial?
  • What are the costs for lease extension conveyancing?

  • Can you provide any advice for leasehold conveyancing in Tibshelf with the purpose of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Tibshelf can be avoided if you instruct lawyers as soon as you market your property and ask them to collate the leasehold information needed by the purchasers’ representatives.
    • Many landlords or Management Companies in Tibshelf levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Tibshelf.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Tibshelf state that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord acquiescing to such alterations. Should you fail to have the consents to hand you should not communicate with the landlord without checking with your lawyer in advance.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share document. Organising a re-issued share certificate is often a time consuming process and delays many a Tibshelf conveyancing deal. Where a duplicate share is required, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 75 years. It is therefore essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

  • What makes a Tibshelf lease unmortgageable?

    There is nothing unique about leasehold conveyancing in Tibshelf. All leases are individual and drafting errors can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the property
    • A duty to insure the building
    • 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 may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Chelsea Building Society, and Bank of Ireland all have very detailed conveyancing instructions 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, forcing the purchaser to withdraw.

    Tibshelf Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing

      Are there any major works on the horizon that will likely add a premium to the service costs? Plenty Tibshelf leasehold flats will be liable to pay a service bill for maintenance of the building levied by the landlord. Should you buy the flat you will have to meet this liability, usually periodically accross the year. This could differ from a couple of hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all likelihood there will be a ground rent to be met annual, this is usually not a significant figure, say around £50-£100 but you should to check as on occasion it can be many hundreds of pounds. How many years are left on the lease?

    Other Topics

    Lease Extensions in Tibshelf