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

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Leasehold conveyancing in Whitby is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Whitby and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Whitby leasehold conveyancing: Q and A’s

I am attracted to a two apartments in Whitby both have in the region of fifty years remaining on the lease term. should I be concerned?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this area

I've recently bought a leasehold flat in Whitby. Am I liable to pay service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any top tips for leasehold conveyancing in Whitby with the intention of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Whitby can be avoided where you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation needed by the buyers representatives.
  • The majority freeholders or managing agents in Whitby charge for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack 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 frequent reason for frustration in leasehold conveyancing in Whitby.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Whitby state that internal structural changes or addition of wooden flooring calls for a licence from the Landlord approving such changes. Where you dont have the consents in place you should not communicate with the landlord without contacting your conveyancer before hand.
  • A minority of Whitby leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are able to meet the annual 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 there is a history of conflict with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be nervous about purchasing a property where a dispute is unsettled. You may need to swallow your pride and 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 reveal the dispute as historic rather than unresolved.

    • If all goes to plan we aim to complete our sale of a £475000 flat in Whitby on Friday in a week. The management company has quoted £348 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Whitby?

    Whitby conveyancing on leasehold apartments more often than not involves the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries the majority will be content to do so. They are at liberty charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some cases it exceeds £800. The management information fee invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, otherwise the invoice is technically not due. Reality however dictates that you have little option but to pay whatever is demanded if you want to sell the property.

    In relation to leasehold conveyancing in Whitby what are the most common lease defects?

    There is nothing unique about leasehold conveyancing in Whitby. All leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are wrong. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the building
    • 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

    You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, The Royal Bank of Scotland, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.

    Whitby Conveyancing for Leasehold Flats - A selection of Queries before buying

      Who are the managing agents? For many Whitby leaseholds the outlay for major works are not included within service charges, albeit that there some managing agents in Whitby require leaseholders to contribute towards a sinking fund created for the specific intention of building a fund for major works. Be sure to investigate if the the lease includes any unreasonable restrictions in the lease. For example some leases prohibit pets being permitted in in a block in Whitby. If you love the propertyin Whitby however your cat can’t move with you then you will be presented with a hard choice.

    Other Topics

    Lease Extensions in Whitby