Fixed-fee leasehold conveyancing in Waolstenholme:

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Waolstenholme leasehold conveyancing Example Support Desk Enquiries

I am in need of some leasehold conveyancing in Waolstenholme. Before diving in I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% are in Waolstenholme - 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.

Looking forward to sign contracts shortly on a basement flat in Waolstenholme. Conveyancing lawyers inform me that they report fully on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Waolstenholme should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Does the lease prevent you from subletting the property, or working from home
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Waolstenholme please ask your conveyancer in advance of your conveyancing in Waolstenholme

    • I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable price which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Waolstenholme. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

    Most houses in Waolstenholme 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. We note that you are purchasing in Waolstenholme in which case you should be looking for a Waolstenholme conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your lawyer will advise you fully on all the issues.

    I work for a busy estate agent office in Waolstenholme where we have witnessed a few leasehold sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Waolstenholme conveyancing firms. Can you clarify whether the seller of a flat can start the lease extension formalities for the buyer?

    As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is 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 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 purchaser.

    Do you have any advice for leasehold conveyancing in Waolstenholme from the perspective of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Waolstenholme can be reduced if you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information needed by the buyers representatives.
    • A minority of Waolstenholme 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 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be concerned about purchasing a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than unresolved.
  • If you hold a share in a the Management Company, you should ensure that you are holding the original share document. Obtaining a duplicate share certificate can be a time consuming process and delays many a Waolstenholme home move. If a new share is needed, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check via your lawyers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the lease term is less than 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I am the registered owner of a split level flat in Waolstenholme, conveyancing was carried out 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Waolstenholme with an extended lease are worth £170,000. The average or mid-range amount of ground rent is £55 levied per year. The lease runs out on 21st October 2098

    With 72 years remaining on your lease the likely cost is going to span between £11,400 and £13,200 plus costs.

    The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Waolstenholme