I am in need of some leasehold conveyancing in Whitefield. Before diving in I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Whitefield - 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've found a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Whitefield. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Whitefield ?

Most houses in Whitefield are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Whitefield in which case you should be shopping around for a Whitefield conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your lawyer will advise you fully on all the issues.

I own a leasehold flat in Whitefield. Conveyancing and Nottingham Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Whitefield who acted for me is not around.What should I do?

First contact HMLR to be sure that this person is indeed the new freeholder. It is not necessary to instruct a Whitefield conveyancing firm to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of flats in Whitefield which have in the region of forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Whitefield is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of purchasers and lenders, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Whitefield conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

In relation to leasehold conveyancing in Whitefield what are the most frequent lease defects?

Leasehold conveyancing in Whitefield is not unique. All leases are individual and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Coventry Building Society, and Britannia 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 grant the mortgage, forcing the purchaser to withdraw.

Whitefield Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing

It would be sensible to discover if the the lease contains any onerous restrictions in the lease. For instance some leases prohibit pets being permitted in in a block in Whitefield. If you love the propertyin Whitefield however your cat can’t move with you then you will be faced difficult compromise. How many of the leaseholders are in arrears for their maintenance charge payments? Most Whitefield leasehold flats will be liable to pay a service charge for maintenance of the building set on behalf of the management company. Where you buy the apartment you will have to pay this liability, normally in instalments during the year. This could vary from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. In all probability there will be a rentcharge for you to pay annual, this is usually not a exorbitant figure, say around £50-£100 but you need to enquire as occasionally it can be prohibitively expensive.

Other Topics

Lease Extensions in Whitefield