I've found a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Yate. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

Most houses in Yate are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Yate in which case you should be shopping around for a Yate 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 with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your lawyer should report to you on the legal implications.

Back In 2000, I bought a leasehold flat in Yate. Conveyancing and Nationwide Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Yate who previously acted has long since retired.What should I do?

First contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Yate conveyancing solicitor to do this as you can do this on the Land Registry website 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.

I am looking at a two flats in Yate which have approximately forty five years unexpired on the lease term. Do I need to be concerned?

There are plenty of short leases in Yate. The lease is a right to use the property for a prescribed time frame. As the lease gets shorter the value of the lease reduces and it becomes more costly to extend the lease. This is why it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field

I work for a reputable estate agency in Yate where we have witnessed a number of leasehold sales put at risk due to short leases. I have received conflicting advice from local Yate conveyancing solicitors. Could you shed some light as to whether the owner of a flat can instigate the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

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.

What are your top tips when it comes to appointing a Yate conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Yate conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Yate conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

• Can they put you in touch with client in Yate who can give a testimonial?

Yate Conveyancing for Leasehold Flats - Examples of Queries before Purchasing

How many of the leaseholders are in arrears for their service charge payments? Please tell me if there are any major works in the near future that will likely increase the service charges? You should be aware if it is fewer than eighty years it will affect the salability of the flat. It is worth checking with your bank that they are content with remaining years on the lease. Leases with less than 80 years remaining means that you will most likely have to extend the lease at some point and you need to have some idea of how much this will be. For most Yatelease extensions you will be be obliged to have been the owner of the premises for two years in order to be legally able to extend the lease.

Other Topics

Lease Extensions in Yate