I am in need of some leasehold conveyancing in Wigton. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and almost all are in Wigton - 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 am intending to rent out my leasehold flat in Wigton. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Your lease governs relations between the landlord and you the flat owner; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Wigton do not prevent subletting altogether – such a clause would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

I am a negotiator for a busy estate agent office in Wigton where we see a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Wigton conveyancing firms. Please can you shed some light as to whether the seller of a flat can instigate the lease extension formalities for the buyer?

Provided that the seller has been the owner 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. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

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.

What advice can you give us when it comes to finding a Wigton conveyancing firm to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Wigton conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Wigton 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 useful:

• How many lease extensions has the firm conducted in Wigton in the last twenty four months?

All being well we will complete our sale of a £350000 maisonette in Wigton in six days. The managing agents has quoted £312 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Wigton?

Wigton conveyancing on leasehold apartments often necessitates the purchaser’s conveyancer sending enquiries for the landlord to address. Although the landlord is not legally bound to answer these enquiries the majority will be willing to do so. They are entitled invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some cases it exceeds £800. The management information fee demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is technically not due. In reality you have no option but to pay whatever is demanded if you want to exchange contracts with the buyer.

Leasehold Conveyancing in Wigton - Sample of Queries before buying

How many of the leaseholders are in arrears for their maintenance charge payments? For many Wigton leaseholds the cost for major works are not wrapped into the maintenance charges, albeit that some managing agents in Wigton obliged leasehold owners to pay into a reserve fund and this is used to offset against larger repairs or maintenance. You should be aware that where the lease has less than eighty years it will impact the marketability of the property. It is worth checking with your bank that they are willing to go ahead with the loan given the lease term. A short lease means that you will almost definitely need a lease extension sooner rather than later and it is worth discovering what this will be. For most Wigtonlease extensions you would need to own the residence for two years before you are eligible to exercise a lease extension.

Other Topics

Lease Extensions in Wigton