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Questions and Answers: Yarm On Tees leasehold conveyancing

Planning to exchange soon on a studio apartment in Yarm On Tees. Conveyancing lawyers assured me that they are sending me a report next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Yarm On Tees should include some of the following:

  • Whether the lease restricts you from subletting the property, or working from home
  • You need to be told what constitutes a Nuisance in the lease
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What you can do if a neighbour breach a clause of their lease? For a comprehensive list of information to be included in your report on your leasehold property in Yarm On Tees please enquire of your solicitor in advance of your conveyancing in Yarm On Tees

    • I have just appointed agents to market my garden apartment in Yarm On Tees.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge invoice – should I leave it to the buyer to sort out?

    Your conveyancing lawyer is likely to suggest that you should pay the service charge 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

    Back In 2002, I bought a leasehold house in Yarm On Tees. Conveyancing and Nationwide Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Yarm On Tees who previously acted has now retired.What should I do?

    First make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Yarm On Tees conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    Last month I purchased a leasehold house in Yarm On Tees. 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 lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

    Do you have any top tips for leasehold conveyancing in Yarm On Tees from the point of view of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Yarm On Tees can be reduced where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
    • Many freeholders or Management Companies in Yarm On Tees levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding 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 cause of delay in leasehold conveyancing in Yarm On Tees.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Yarm On Tees leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord consenting to such changes. If you dont have the paperwork to hand you should not contact the landlord without checking with your conveyancer before hand.
  • If you have had conflict with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and discharge 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 will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than unsettled.
  • You believe that you know the number of years left on your lease but it would be advisable double-check via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is below 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • Yarm On Tees Leasehold Conveyancing - A selection of Queries Prior to Purchasing

      Is there a share of the freehold? You should be aware if it is fewer than eighty years it will have adverse implications on the marketability of the property. Check with your mortgage company that they are content with residual term of the lease. A short lease means that you will probably have to extend the lease at some point and you need to have some idea of how much this will be. For most Yarm On Teeslease extensions you will be be obliged to have owned the premises for 24 months in order to be eligible to extend the lease. It would be sensible to find out as much as possible concerning the company managing the block as they will affect your use and enjoyment of the property. As the owner of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to daily matters like the upkeep of the common parts. Enquire of prospective neighbours what they think of them. In conclusion, be sure you discover the dates that the maintenance fees are due to the managing agents and precisely what it includes.

    Other Topics

    Lease Extensions in Yarm On Tees