Having had my offer accepted I require leasehold conveyancing in Wigston. Before diving in I want to be sure as to the remaining lease term.

If the lease is registered - and almost all are in Wigston - 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 today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Wigston. Conveyancing advisers have are about to be appointed. Will they explain the issues?

The majority of houses in Wigston are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Wigston so you should seriously consider looking for a Wigston conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your solicitor will appraise you on the various issues.

My wife and I purchased a leasehold house in Wigston. Conveyancing and The Mortgage Works mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Wigston who previously acted has long since retired.Do I pay?

The first thing you should do is contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Wigston conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

If all goes to plan we aim to complete the disposal of our £425000 apartment in Wigston next week. The management company has quoted £324 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Wigston?

Wigston conveyancing on leasehold apartments normally involves the buyer’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to answer these enquiries most will be willing to assist. They are at liberty invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some transactions it is above £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, without which the charge is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

What are the frequently found deficiencies that you come across in leases for Wigston properties?

Leasehold conveyancing in Wigston is not unique. All leases are unique and drafting errors can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the property
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Leeds Building Society, and TSB all have very detailed 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 grant the mortgage, forcing the buyer to withdraw.

Leasehold Conveyancing in Wigston - A selection of Questions you should consider Prior to Purchasing

You should want to discover as much as possible about the managing agents as they can either make living at the property much simpler or uncomfortable. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to daily issues like the upkeep of the common parts. Ask other people whether they are happy with their management. On a final note, find out the dates that you are obliged pay the service charge to the managing agents and specifically what it includes. The best form of lease arrangement is a share of the freehold. In this arrangement the leaseholders benefit from being in charge if their destiny and even though a managing agent is usually retained where the building is larger than a house conversion, the managing agent is directed by the tenants. If a Wigston lease has fewer than eighty years it will affect the salability of the apartment. Check with your mortgage company that they are willing to lend given the lease term. A short lease means that you will almost definitely require a lease extension at some point and it is worth finding out how much this will be. For most Wigstonlease extensions you would be required to have been the owner of the property for 24 months in order to be entitled to extend the lease.

Other Topics

Lease Extensions in Wigston