Leasehold Conveyancing in Todwick - Get a Quote from the leasehold experts approved by your lender

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When it comes to leasehold conveyancing in Todwick, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your lender is to be Halifax, Yorkshire Building Society or NatWest make sure you find a lawyer on their panel. Feel free to use our search tool

Common questions relating to Todwick leasehold conveyancing

I've found a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Todwick. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

The majority of houses in Todwick 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 Todwick so you should seriously consider looking for a Todwick conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority 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 requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your solicitor should report to you on the legal implications.

My wife and I purchased a leasehold house in Todwick. Conveyancing and Yorkshire Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Todwick who previously acted has now retired.What should I do?

The first thing you should do is contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Todwick conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am employed by a long established estate agency in Todwick where we have experienced a number of flat sales put at risk due to short leases. I have received conflicting advice from local Todwick conveyancing firms. Could you shed some light as to whether the owner of a flat can instigate the lease extension process for the buyer?

Provided that the seller has been the owner 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. This means that the buyer need not have to wait 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 sale.

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.

Can you offer any advice when it comes to appointing a Todwick conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Todwick conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Todwick conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

  • If they are not ALEP accredited then why not?
  • Can they put you in touch with client in Todwick who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in Todwick with the purpose of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Todwick can be avoided if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ representatives.
    • The majority landlords or Management Companies in Todwick levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Todwick.
  • A minority of Todwick leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying 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 solicitors.
  • If you hold a share in a the freehold, you should make sure that you hold the original share certificate. Obtaining a replacement share certificate can be a lengthy process and delays many a Todwick home move. Where a new share certificate is required, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your solicitors. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 80 years. It is therefore important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Todwick Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing

      How is the lease structured? How many of the leaseholders are in arrears for their maintenance charge payments? Please note if it is fewer than eighty years it will have adverse implications on the value of the property. It is worth checking with your mortgage company that they are content with remaining years on the lease. Leases with less than 80 years remaining means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you will be required to have owned the residence for 24 months before you are eligible to extend the lease.

    Other Topics

    Lease Extensions in Todwick