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Top Five Questions relating to Wickersley leasehold conveyancing

Jane (my partner) and I may need to let out our Wickersley garden flat temporarily due to a career opportunity. We used a Wickersley conveyancing practice in 2002 but they have since shut and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?

A small minority of properties in Wickersley do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

Planning to sign contracts shortly on a leasehold property in Wickersley. Conveyancing solicitors assured me that they report fully on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Wickersley should include some of the following:

  • Whether your lease has a provision for a sinking fund?
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Wickersley please enquire of your solicitor in ahead of your conveyancing in Wickersley

    • What are your top tips when it comes to choosing a Wickersley conveyancing practice to carry out our lease extension conveyancing?

    If you are instructing a solicitor for lease extension works (regardless if they are a Wickersley conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Wickersley conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

    • If they are not ALEP accredited then what is the reason?
  • What volume of lease extensions has the firm conducted in Wickersley in the last 12 months?

    • Can you provide any advice for leasehold conveyancing in Wickersley from the perspective of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Wickersley can be reduced if you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ representatives.
    • Many landlords or Management Companies in Wickersley levy fees for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Wickersley.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Wickersley state that internal structural changes or installing wooden flooring require a licence issued by the Landlord approving such alterations. Should you fail to have the paperwork to hand you should not contact the landlord without checking with your lawyer first.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be nervous about purchasing a property where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. 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 clearly preferable to present the dispute as historic rather than ongoing.
  • You may think that you are aware of the number of years left on your lease but you should double-check via your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is less than 80 years. In the circumstances it is important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

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

    Leasehold conveyancing in Wickersley is not unique. Most leases is drafted differently and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations 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

    A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, The Mortgage Works, and Britannia all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    I invested in buying a 2 bed flat in Wickersley, conveyancing was carried out 5 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Wickersley with a long lease are worth £166,000. The ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2098

    With only 73 years remaining on your lease the likely cost is going to range between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Wickersley