Experts for Leasehold Conveyancing in Yeadon

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Yeadon leasehold conveyancing Example Support Desk Enquiries

I am hoping to sign contracts shortly on a garden flat in Yeadon. Conveyancing lawyers have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?

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

  • How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
  • Setting out your legal entitlements in relation to common areas in the block.E.G., does the lease provide for a right of way over a path or staircase?
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • You must be told what constitutes a Nuisance in the lease
  • Whether your lease has a provision for a sinking fund?
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in Yeadon please enquire of your lawyer in ahead of your conveyancing in Yeadon

    • My wife and I purchased a leasehold flat in Yeadon. Conveyancing and Chelsea Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Yeadon who acted for me is not around.Do I pay?

    First contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Yeadon conveyancing solicitor to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    Can you offer any advice when it comes to finding a Yeadon conveyancing firm to deal with our lease extension?

    When appointing a property lawyer for your lease extension (regardless if they are a Yeadon conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Yeadon conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

    • If the firm is not ALEP accredited then why not?
  • What are the costs for lease extension work?

    • Do you have any advice for leasehold conveyancing in Yeadon with the intention of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Yeadon can be avoided if you instruct lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the purchasers’ solicitors.
    • Some Yeadon leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are 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 service charge figures 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 resolved before the property is 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 discharge 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 prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as over as opposed to ongoing.
  • If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share document. Arranging a duplicate share certificate is often a time consuming formality and frustrates many a Yeadon home move. Where a reissued share is required, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is under 75 years. It is therefore essential at an early stage 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.

    • What makes a Yeadon lease unmortgageable?

    There is nothing unique about leasehold conveyancing in Yeadon. All leases is drafted differently and drafting errors can result in certain provisions are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the property
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, The Royal Bank of Scotland, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.

    I invested in buying a leasehold flat in Yeadon, conveyancing having been completed half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Yeadon with an extended lease are worth £255,000. The ground rent is £50 invoiced every year. The lease finishes on 21st October 2079

    You have 54 years remaining on your lease we estimate the price of your lease extension to span between £36,100 and £41,800 as well as legals.

    The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Yeadon