Leasehold Conveyancing in Yate - Get a Quote from the leasehold experts approved by your lender

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When it comes to leasehold conveyancing in Yate, you will need to appoint a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Lloyds, Birmingham Midshires or Bradford & Bingley be sure to choose a lawyer on their approved list. Find a Yate conveyancing lawyer with our search tool

Examples of recent questions relating to leasehold conveyancing in Yate

Looking forward to complete next month on a ground floor flat in Yate. Conveyancing lawyers have said that they will have a report out to me next week. What should I be looking out for?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The total extent of the property. This will be the property itself but could also incorporate a roof space or basement if appropriate.
  • Are you allowed to have a pet in the flat?
  • Does the lease prevent you from letting out the flat, or having a home office for business
  • Changes to the flat (alterations and additions)
  • 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
  • Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in Yate please enquire of your solicitor in ahead of your conveyancing in Yate

    • I today plan to offer on a house that seems to be perfect, at a great price which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Yate. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

    Most houses in Yate are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Yate in which case you should be looking for a Yate conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your lawyer will report to you on the legal implications.

    Back In 2009, I bought a leasehold house in Yate. Conveyancing and Godiva Mortgages Ltd mortgage are in place. 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 1996. The conveyancing practitioner in Yate who acted for me is not around.Do I pay?

    The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to instruct a Yate conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I am tempted by the attractive purchase price for a couple of maisonettes in Yate which have about forty five years left on the leases. Should I regard a short lease as a deal breaker?

    There are no two ways about it. A leasehold flat in Yate is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the premises. The majority of buyers and mortgage companies, leases with under 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 Yate 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.

    Do you have any advice for leasehold conveyancing in Yate from the perspective of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Yate can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information which will be required by the buyers conveyancers.
    • If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Yate state that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such changes. Where you fail to have the consents in place you should not communicate with the landlord without contacting your solicitor before hand.
  • Some Yate 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. The bank reference should make it clear that the buyer is able to meet 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you are supposed to have a share in the Management Company, you should ensure that you hold the original share document. Organising a re-issued share certificate is often a time consuming process and slows down many a Yate home move. If a duplicate share is needed, do contact the company director and secretary or managing agents (where relevant) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but you should double-check by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. In the circumstances it is important at an early stage 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.

    • Yate Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing

      How many of the leaseholders are in arrears for their service charge payments? It is important to be aware whether window replacement or some other major work is coming up that will be shared between the leasehold owners and could well materially increase the the service charges or require a specific payment. Please note that where the lease has fewer than 80 years it will affect the marketability of the property. Check with your lender that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will probably have to extend the lease at some point and it is worth discovering what this would cost. For most Yatelease extensions you would need to own the premises for two years in order to be entitled to exercise a lease extension.

    Other Topics

    Lease Extensions in Yate