Fixed-fee leasehold conveyancing in Yarm On Tees:

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Top Five Questions relating to Yarm On Tees leasehold conveyancing

I wish to sublet my leasehold flat in Yarm On Tees. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

A lease governs relations between the freeholder and you the leaseholder; in particular, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Yarm On Tees do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

My wife and I purchased a leasehold flat in Yarm On Tees. Conveyancing and The Royal Bank of Scotland mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Yarm On Tees who acted for me is not around.Any advice?

First contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Yarm On Tees conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold flat in Yarm On Tees. Am I liable to pay service charges for periods before my ownership?

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. Strange as it may seem, 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 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).

Can you offer any advice when it comes to appointing a Yarm On Tees conveyancing firm to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Yarm On Tees conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Yarm On Tees conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

  • How familiar is the practice with lease extension legislation?
  • Can they put you in touch with client in Yarm On Tees who can give a testimonial?

  • Can you provide any top tips for leasehold conveyancing in Yarm On Tees from the perspective of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Yarm On Tees can be reduced where you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
    • In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Yarm On Tees leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord consenting to such works. If you fail to have the paperwork in place you should not contact the landlord without contacting your lawyer in advance.
  • A minority of Yarm On Tees leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice 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 annual 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 lawyers.
  • If you hold a share in a the Management Company, you should make sure that you have the original share certificate. Obtaining a new share certificate is often a time consuming process and frustrates many a Yarm On Tees conveyancing transaction. Where a new share is necessary, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check via your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 80 years. It is therefore important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

  • Yarm On Tees Leasehold Conveyancing - Sample of Questions you should consider before buying

      Are any of leasehold owners in arrears of their service charge payments? In the main the cost for major works are not wrapped into the maintenance charges, albeit that there some managing agents in Yarm On Tees ask leaseholders to contribute towards a reserve fund and this is used to offset against major works. What is the name of the managing agents?

    Other Topics

    Lease Extensions in Yarm On Tees