Fixed-fee leasehold conveyancing in Whitehaven:

Get a Quote

Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Whitehaven, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in Whitehaven

I am attracted to a couple of apartments in Whitehaven both have approximately 50 years remaining on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Whitehaven is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. The majority of buyers and lenders, leases with less than 75 years become less and less marketable. On a more positive 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 Whitehaven conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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.

I am employed by a long established estate agency in Whitehaven where we have experienced a few flat sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Whitehaven conveyancing solicitors. Could you clarify whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 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 simultaneously with 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 Whitehaven with the intention of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Whitehaven can be avoided if you get in touch lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the buyers solicitors.
  • Many landlords or managing agents in Whitehaven levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Whitehaven.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Whitehaven leases often stipulate that internal structural changes or laying down wooden flooring require a licence from the Landlord acquiescing to such works. If you dont have the consents to hand you should not communicate with the landlord without checking with your lawyer in advance.
  • A minority of Whitehaven leases require Licence to Assign from the landlord. 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 able to meet 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 lawyers.
  • You believe that you know the number of years remaining on your lease but it would be advisable double-check via your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. In the circumstances it is important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Completion in due on our sale of a £400000 apartment in Whitehaven in just under a week. The landlords agents has quoted £396 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Whitehaven?

    Whitehaven conveyancing on leasehold apartments often necessitates the purchaser’s conveyancer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to do so. They may invoice a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it is above £800. The management information fee demanded by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, without which the charge is not strictly payable. Reality however dictates that one has little option but to pay whatever is demanded should you wish to sell the property.

    Are there frequently found deficiencies that you encounter in leases for Whitehaven properties?

    There is nothing unique about leasehold conveyancing in Whitehaven. Most leases are unique and drafting errors can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements 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

    You will encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Chelsea Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.

    Leasehold Conveyancing in Whitehaven - Sample of Queries Prior to Purchasing

      Who are the managing agents? This question is important as a) areas could result in problems in the block as the common areas may start to deteriorate if maintenance remain unpaid b) if the leasehold owners have an issue with the running of the building you will want to have full disclosure Best to be warned if changing the roof or some other major work is coming up that will be shared between the leaseholders and could well dramatically impact the level of the maintenance fees or necessitate a one off invoice.

    Other Topics

    Lease Extensions in Whitehaven