I've found a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have just found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Writtle. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

The majority of houses in Writtle are freehold rather than 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 Writtle in which case you should be shopping around for a Writtle conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer will appraise you on the various issues.

I own a leasehold flat in Writtle. Conveyancing and Britannia mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Writtle who previously acted has now retired.What should I do?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. You do not need to instruct a Writtle conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a couple of maisonettes in Writtle both have in the region of 50 years unexpired on the lease term. should I be concerned?

There is no doubt about it. A leasehold flat in Writtle is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. The majority of purchasers and banks, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Writtle conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I work for a long established estate agency in Writtle where we have witnessed a few flat sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Writtle conveyancing firms. Can you clarify whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

Do you have any top tips for leasehold conveyancing in Writtle from the point of view of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Writtle can be bypassed where you instruct lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ solicitors.
• The majority freeholders or Management Companies in Writtle levy fees for providing 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 on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Writtle.
• In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Writtle leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. Where you dont have the approvals in place do not contact the landlord without contacting your solicitor before hand.
• 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 nervous about purchasing a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. 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 present the dispute as historic rather than unsettled.
• If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share document. Obtaining a re-issued share certificate can be a lengthy formality and frustrates many a Writtle conveyancing transaction. Where a new share certificate is required, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.

Writtle Leasehold Conveyancing - Examples of Questions you should ask before Purchasing

Best to be warned if window replacement or some other major work is anticipated that will be shared between the leaseholders and may well dramatically impact the level of the maintenance costs or result in a one off payment.