Fixed-fee leasehold conveyancing in Wide Open:

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Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Wide Open, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Wide Open leasehold conveyancing Example Support Desk Enquiries

Having had my offer accepted I require leasehold conveyancing in Wide Open. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Wide Open - then the leasehold title will always include the basic details 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 have just started marketing my ground floor apartment in Wide Open.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge invoice – what should I do?

The sensible thing to do is clear the service charge 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. This will smooth the conveyancing process.

I am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it more attractive. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Wide Open. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Wide Open ?

The majority of houses in Wide Open are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Wide Open in which case you should be looking for a Wide Open conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your lawyer will report to you on the legal implications.

Can you offer any advice when it comes to choosing a Wide Open conveyancing practice to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Wide Open conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Wide Open conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

  • If the firm is not ALEP accredited then what is the reason?
  • Can they put you in touch with client in Wide Open who can give a testimonial?

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

    • Much of the frustration in leasehold conveyancing in Wide Open can be avoided if you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ solicitors.
    • A minority of Wide Open leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be nervous about purchasing a flat where a dispute is unsettled. You may have to bite the bullet and pay any arrears of service charge or resolve 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 particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to unsettled.
  • If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share document. Obtaining a re-issued share certificate is often a lengthy formality and delays many a Wide Open home move. If a reissued share certificate is necessary, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is below 75 years. In the circumstances it is important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Leasehold Conveyancing in Wide Open - Examples of Queries before Purchasing

      What prohibitions exist in the Wide Open Lease? The majority of Wide Open leasehold properties will have a service charge for the upkeep of the building levied by the freeholder. Should you acquire the property you will have to pay this charge, usually periodically during the year. This could vary from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a rentcharge for you to pay yearly, this is usually not a large figure, say approximately £25-£75 but you should to check it because occasionally it could be many hundreds of pounds. Its a good idea to find out as much as you can regarding the managing agents as they will either make life much simpler or problematic. As the owner of a leasehold property you will be in the clutches of the managing agents from a financial perspective and when it comes to practical issues such as the tidiness of the communal areas. Ask other tenants whether they are happy with their service. On a final note, be sure you know the dates that the maintenance fees are due to the managing agents and specifically how they are spending the funds.

    Other Topics

    Lease Extensions in Wide Open