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

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Sample questions relating to Whitnash leasehold conveyancing

I’m about to sell my basement flat in Whitnash.Conveyancing lawyers have not yet been instructed but I have just received a quarterly maintenance charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I've found a house that appears to be perfect, at a great figure which is making it more attractive. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Whitnash. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

The majority of houses in Whitnash 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 Whitnash in which case you should be looking for a Whitnash conveyancing solicitor and be sure that they are used to advising on leasehold houses. First 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 for example requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer should report to you on the legal implications.

I own a leasehold house in Whitnash. Conveyancing and Leeds Building Society mortgage went though with no issue. 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 1998. The conveyancing practitioner in Whitnash who acted for me is not around.What should I do?

First contact the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Whitnash conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am a negotiator for a busy estate agency in Whitnash where we have experienced a number of flat sales derailed as a result of short leases. I have received conflicting advice from local Whitnash conveyancing solicitors. Can you confirm whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?

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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

An alternative approach is 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 top tips for leasehold conveyancing in Whitnash from the point of view of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Whitnash can be avoided if you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
  • Many landlords or Management Companies in Whitnash levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Whitnash.
  • A minority of Whitnash 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 put in hand bank and professional references. The bank reference will need to confirm that the buyers are 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you have had conflict with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. You may have to bite the bullet and pay 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 buyers, but it is clearly preferable to reveal the dispute as historic rather than ongoing.
  • You believe that you know the number of years left on your lease but you should verify this via your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to where the remaining number of years is less than 80 years. It is therefore important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Whitnash Leasehold Conveyancing - A selection of Questions you should ask before Purchasing

      How many of the leaseholders are in arrears for their service charge payments? This information is important as a) areas may cause problems in the building as the common areas may begin to deteriorate if maintenance remain unpaid b) if the tenants have a dispute with the running of the building you will need to have all the details It would be wise to discover as much as possible regarding the company managing the building as they will either make your living at the property much easier or uncomfortable. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to practical issues such as the tidiness of the common parts. Ask other people what they think of their management. Finally, be sure you understand the dates that you are obliged pay the maintenance charge to the appropriate party and precisely what it includes.

    Other Topics

    Lease Extensions in Whitnash