I am on look out for some leasehold conveyancing in Yarm On Tees. Before I get started I would like to find out the unexpired term of the lease.

If the lease is registered - and most are in Yarm On Tees - then the leasehold title will always include the short particulars 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.

Harry (my fiance) and I may need to rent out our Yarm On Tees garden flat for a while due to a career opportunity. We instructed a Yarm On Tees conveyancing practice in 2003 but they have closed and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your last Yarm On Tees conveyancing lawyer is not around you can review your lease to check if you are permitted to let out the premises. The accepted inference is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you need to obtain consent via your landlord or some other party prior to subletting. This means you not allowed to sublet in the absence of first obtaining consent. Such consent should not be unreasonably withheld. If your lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.

I've found a house that seems to be perfect, at a great figure which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Yarm On Tees. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?

Most houses in Yarm On Tees are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Yarm On Tees so you should seriously consider shopping around for a Yarm On Tees conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor should report to you on the legal implications.

Do you have any top tips for leasehold conveyancing in Yarm On Tees with the purpose of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Yarm On Tees can be bypassed where you appoint lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the buyers representatives.
• A minority of Yarm On Tees leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.

If there is a history of conflict with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may have to bite the bullet and pay 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 will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as over as opposed to unsettled.

If you hold a share in a the Management Company, you should make sure that you are holding the original share certificate. Obtaining a replacement share certificate is often a time consuming formality and delays many a Yarm On Tees home move. If a new share is needed, do contact the company officers or managing agents (if relevant) for this as soon as possible.

You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is below 75 years. In the circumstances it is important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

We expect to complete our sale of a £125000 maisonette in Yarm On Tees next week. The managing agents has quoted £312 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Yarm On Tees?

For most leasehold sales in Yarm On Tees conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Answering conveyancing due diligence questions
• Where consent is required before sale in Yarm On Tees
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Yarm On Tees leasehold premises is £350. For Yarm On Tees conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

I bought a leasehold flat in Yarm On Tees, conveyancing having been completed 8 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Yarm On Tees with a long lease are worth £255,000. The ground rent is £65 per annum. The lease ends on 21st October 2085

You have 61 years unexpired we estimate the price of your lease extension to span between £22,800 and £26,400 as well as legals.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Yarm On Tees