I am on look out for some leasehold conveyancing in Woodley. Before diving in I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% 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.

I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Woodley. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

Most houses in Woodley are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Woodley so you should seriously consider shopping around for a Woodley conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your solicitor will advise you fully on all the issues.

I own a leasehold flat in Woodley. Conveyancing and Norwich and Peterborough Building Society mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Woodley who previously acted has now retired.What should I do?

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. You do not need to instruct a Woodley conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a couple of flats in Woodley which have in the region of forty five years left on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the saleability of the lease reduces and it becomes more costly to extend the lease. This is why it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field

Can you provide any advice for leasehold conveyancing in Woodley with the purpose of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Woodley can be reduced where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information needed by the purchasers’ conveyancers.
• The majority freeholders or managing agents in Woodley charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Woodley.
• If you have had conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as over rather than ongoing.
• If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Arranging a new share certificate is often a time consuming formality and slows down many a Woodley home move. Where a new share certificate is needed, do contact the company officers or managing agents (if relevant) for this at the earliest opportunity.
• You believe that you know the number of years left on your lease but you should verify this by asking your lawyers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. It is therefore essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

Woodley Leasehold Conveyancing - Examples of Questions you should consider before buying

Many Woodley leasehold properties will incur a service bill for maintenance of the block set by the management company. Should you acquire the apartment you will have to meet this amount, normally in instalments throughout the year. This can be anything from a couple of hundred pounds to thousands of pounds for blocks with lifts and large common areas. In all likelihood there will be a ground rent for you to pay yearly, ordinarily this is not a large amount, say about £50-£100 but you should to enquire as on occasion it can be many hundreds of pounds. Is the freehold owned jointly by the tenants?