Having had my offer accepted I require leasehold conveyancing in Holmfirth. Before diving in I want to be sure as to the remaining lease term.

Assuming the lease is recorded at the land registry - and almost all are in Holmfirth - then the leasehold title will always include the basic details 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.

Due to sign contracts shortly on a basement flat in Holmfirth. Conveyancing solicitors assured me that they report fully next week. Are there areas in the report that I should be focusing on?

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

• You should be sent a copy of the lease

Defining your legal entitlements in relation to the communal areas in the building.E.G., does the lease contain a right of way over a path or hallways?

Does the lease require carpeting throughout thus preventing wood flooring?

Does the lease prevent you from renting out the flat, or having a home office for business

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

What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Holmfirth please enquire of your conveyancer in advance of your conveyancing in Holmfirth

I am a negotiator for a long established estate agent office in Holmfirth where we see a few flat sales derailed due to short leases. I have been given contradictory information from local Holmfirth conveyancing firms. Please can you confirm whether the vendor of a flat can initiate the lease extension process for the buyer?

Provided that 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 proposed purchaser 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.

An alternative approach is 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 buyer.

What advice can you give us when it comes to finding a Holmfirth conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Holmfirth conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Holmfirth conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• What volume of lease extensions have they carried out in Holmfirth in the last year?

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

Completion in due on the sale of our £425000 flat in Holmfirth next week. The landlords agents has quoted £300 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Holmfirth?

For the majority of leasehold sales in Holmfirth conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing conveyancing due diligence enquiries
• Where consent is required before sale in Holmfirth
• 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 conveyancer will have no control over the level of the charges for this information but the average costs for the information for Holmfirth leasehold premises is £350. For Holmfirth 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 provide the information.

Leasehold Conveyancing in Holmfirth - Sample of Queries Prior to buying

Is anyone aware of any major works in the planning that could increase the maintenance fees? You should be aware if it is less than 80 years it will have adverse implications on the value of the property. Check with your bank that they are willing to lend given the lease term. A short lease means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you will need to own the residence for 24 months before you are legally able to extend the lease. This information is important as a) areas may cause problems for the building as the communal areas may begin to deteriorate where repairs remain unpaid b) if the leaseholders have a dispute with the running of the building you will need to have all the details

Other Topics

Lease Extensions in Holmfirth