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Frequently asked questions relating to Wombwell leasehold conveyancing

I am on look out for some leasehold conveyancing in Wombwell. Before I set the wheels in motion I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% are in Wombwell - then the leasehold title will always include the short particulars 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've found a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Wombwell. Conveyancing advisers have not yet been instructed. Will they explain the issues?

Most houses in Wombwell are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Wombwell so you should seriously consider looking for a Wombwell conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to carry out alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer should appraise you on the various issues.

I've recently bought a leasehold flat in Wombwell. Am I liable to pay service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What are your top tips when it comes to choosing a Wombwell conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Wombwell conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Wombwell 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 of use:

  • If they are not ALEP accredited then why not?
  • What volume of lease extensions have they carried out in Wombwell in the last twenty four months?

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

    • Much of the delay in leasehold conveyancing in Wombwell can be avoided where you appoint lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ lawyers.
    • A minority of Wombwell leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should 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 yearly 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 there is a history of conflict with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a property where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to ongoing.
  • If you hold a share in a the Management Company, you should ensure that you are holding the original share document. Obtaining a new share certificate is often a lengthy formality and delays many a Wombwell conveyancing transaction. Where a duplicate share is needed, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but you should double-check via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. It is therefore essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Leasehold Conveyancing in Wombwell - Examples of Questions you should ask Prior to buying

      What is the name of the managing agents? Does the lease have in excess of 82 years left? It would be prudent to discover as much as possible concerning the company managing the block as they can either make living at the property much easier or uncomfortable. Being a leasehold owner you are frequently in the clutches of the managing agents both financially and when it comes to every day issues like the tidiness of the common parts. Enquire of prospective neighbours what they think of them. In conclusion, investigate as to the dates that the maintenance fees are due to the managing agents and specifically what it includes.

    Other Topics

    Lease Extensions in Wombwell