Sample questions relating to Woodley leasehold conveyancing
I am on look out for some leasehold conveyancing in Woodley. Before diving in I want to be sure as to the unexpired term of the lease.
If the lease is registered - and most are in Woodley - 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.
Estate agents have just been given the go-ahead to market my 2 bed apartment in Woodley.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the invoice 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 until 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've found a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Woodley. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
The majority of houses in Woodley are freehold and not 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 clear that you are buying in Woodley so you should seriously consider shopping around for a Woodley conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your solicitor should appraise you on the various issues.
I own a leasehold flat in Woodley. Conveyancing and Virgin Money mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Woodley who acted for me is not around.What should I do?
The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Woodley conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a couple of apartments in Woodley both have about fifty years left on the lease term. should I be concerned?
There are plenty of short leases in Woodley. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena
Woodley Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing
Can you inform me if there are any major works on the horizon that will increase the maintenance fees?
You will want to find out as much as possible about the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to every day matters like the cleanliness of the common parts. Don't be shy to ask prospective neighbours what they think of their management. In conclusion, be sure you know the dates that you are obliged pay the maintenance charge to the relevant party and precisely what you get for your money.
How long is the Lease?