Frequently asked questions relating to Widnes leasehold conveyancing
I am in need of some leasehold conveyancing in Widnes. Before I get started I require certainty as to the remaining lease term.
If the lease is recorded at the land registry - and most are in Widnes - 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 recently realised that I have 72 years unexpired on my flat in Widnes. I now wish to extend my lease but my landlord is absent. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to locate the freeholder. On the whole an enquiry agent may be helpful to try and locate and prepare an expert document which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Widnes.
I am hoping to sign contracts shortly on a studio apartment in Widnes. Conveyancing lawyers assured me that they will have a report out to me tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Widnes should include some of the following:
- The physical extent of the premises. This will be the property itself but may incorporate a loft or basement if applicable.
What advice can you give us when it comes to choosing a Widnes conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Widnes conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Widnes conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:
- If the firm is not ALEP accredited then what is the reason?
What makes a Widnes lease unacceptable for security purposes?
Leasehold conveyancing in Widnes is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the property
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Coventry Building Society, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to pull out.
Widnes Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying
If a Widnes lease has no more than eighty years it will have adverse implications on the marketability of the apartment. It is worth checking with your mortgage company that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of how much this will be. For most Widneslease extensions you will need to own the premises for two years in order to be entitled to carry out a lease extension.
How much is the maintenance charge and ground rent on the apartment?
Does the lease have more than 80 years remaining?