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Leasehold conveyancing in Yate is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Yate and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Top Five Questions relating to Yate leasehold conveyancing

Planning to complete next month on a basement flat in Yate. Conveyancing solicitors have said that they are sending me a report within the next couple of days. What should I be looking out for?

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

  • The total extent of the demise. This will be the flat itself but could also include a roof space or basement if appropriate.
  • Will you be prohibited or prevented from having pets in the property?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • You should have a good understanding of the insurance provisions
  • Responsibility for repairing the window frames
  • What options are open to you if a neighbour is in violation of a provision in their lease? For details of the 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 am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price 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 particular concerns purchasing a house with a leasehold title in Yate. Conveyancing solicitors have not yet been 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 conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Yate so you should seriously consider looking for a Yate conveyancing practitioner and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your lawyer should advise you fully on all the issues.

    I am attracted to a two apartments in Yate which have about 50 years left on the leases. Should I regard a short lease as a deal breaker?

    A lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the marketability of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena

    Can you provide any top tips for leasehold conveyancing in Yate from the point of view of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Yate can be avoided if you instruct lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ representatives.
    • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Yate state that internal structural changes or installing wooden flooring calls for a licence from the Landlord approving such alterations. If you fail to have the approvals in place do not contact the landlord without contacting your solicitor in the first instance.
  • Some Yate leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain 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 buyers or their lawyers.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than unresolved.
  • If you are supposed to have a share in the freehold, you should ensure that you have the original share document. Obtaining a re-issued share certificate is often a time consuming process and frustrates many a Yate conveyancing deal. If a new share is necessary, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.

    • What makes a Yate lease problematic?

    There is nothing unique about leasehold conveyancing in Yate. Most leases are unique and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the premises
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Virgin Money, and Clydesdale all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.

    Yate Leasehold Conveyancing - A selection of Queries Prior to buying

      On the whole the cost for major works tend not to be included within maintenance charges, albeit that there some managing agents in Yate require leaseholders to contribute towards a reserve fund and this is used to offset against major repairs or maintenance. The prefered form of lease structure is a share of the freehold. In this scenario the leaseholders benefit from control and even though a managing agent is often employed if the building is larger than a house conversion, the managing agent retained by the leaseholders. Does this lease have more than 82 years left?

    Other Topics

    Lease Extensions in Yate