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Questions and Answers: Wetherby leasehold conveyancing

I am on look out for some leasehold conveyancing in Wetherby. Before diving in I require certainty as to the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Wetherby - then the leasehold title will always include the basic details 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 want to rent out my leasehold flat in Wetherby. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Even though your previous Wetherby conveyancing solicitor is no longer around you can review your lease to check if you are permitted to let out the property. The accepted inference is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you need to obtain permission via your landlord or other appropriate person in advance of subletting. The net result is you not allowed to sublet without first obtaining permission. The consent must not not be unreasonably withheld. If the lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.

I am employed by a long established estate agent office in Wetherby where we have experienced a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Wetherby conveyancing firms. Please can you shed some light as to whether the owner of a flat can start 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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 Wetherby with the intention of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Wetherby can be avoided where you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation needed by the buyers conveyancers.
  • The majority freeholders or Management Companies in Wetherby 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 information sought 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 Wetherby.
  • If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example installed wooden flooring? Wetherby leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. Where you dont have the paperwork in place do not contact the landlord without checking with your lawyer in the first instance.
  • If you have had any disputes with your landlord or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. 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 ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to present the dispute as historic rather than unsettled.
  • If you have the benefit of shareholding in the freehold, you should make sure that you have the original share certificate. Organising a duplicate share certificate is often a lengthy formality and slows down many a Wetherby conveyancing deal. If a duplicate share is required, do contact the company officers or managing agents (if relevant) for this as soon as possible.

    • In relation to leasehold conveyancing in Wetherby what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in Wetherby. Most leases are unique and legal mistakes in the legal wording can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the property
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Barnsley Building Society, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to withdraw.

    Wetherby Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to buying

      Are there any major works in the near future that will likely increase the service costs? Is there a share of the freehold? Its a good idea to find out as much as possible about the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents from a financial perspective and when it comes to day to day issues such as the cleanliness of the communal areas. Ask prospective neighbours if they are happy with their management. Finally, be sure you know the dates that you are obliged pay the maintenance charge to the managing agents and precisely how they are spending that money.

    Other Topics

    Lease Extensions in Wetherby