Fixed-fee leasehold conveyancing in Washwood Heath:

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Sample questions relating to Washwood Heath leasehold conveyancing

I am in need of some leasehold conveyancing in Washwood Heath. Before I set the wheels in motion I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and almost all are in Washwood Heath - then the leasehold title will always include the short particulars 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.

I have recently realised that I have Sixty One years left on my lease in Washwood Heath. I now wish to extend my lease but my freeholder is can not be found. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the lessor. In some cases an enquiry agent may be useful to conduct investigations and to produce an expert document which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on proving the landlord’s absence and the application to the County Court overseeing Washwood Heath.

Last month I purchased a leasehold flat in Washwood Heath. Do I have any liability for service charges for periods before my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What advice can you give us when it comes to choosing a Washwood Heath conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Washwood Heath conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Washwood Heath conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • How familiar is the firm with lease extension legislation?
  • How many lease extensions has the firm completed in Washwood Heath in the last year?

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

    • Much of the frustration in leasehold conveyancing in Washwood Heath can be reduced where you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers solicitors.
    • The majority landlords or Management Companies in Washwood Heath charge for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Washwood Heath.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Washwood Heath state that internal structural changes or laying down wooden flooring calls for a licence from the Landlord approving such changes. If you dont have the paperwork to hand you should not communicate with the landlord without contacting your solicitor first.
  • Some Washwood Heath 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. Any 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.
  • You believe that you know the number of years left on your lease but it would be advisable verify this by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 75 years. It is therefore important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I invested in buying a 1st floor flat in Washwood Heath, conveyancing formalities finalised in 2000. How much will my lease extension cost? Comparable flats in Washwood Heath with over 90 years remaining are worth £206,000. The ground rent is £50 per annum. The lease terminates on 21st October 2095

    With only 70 years left to run we estimate the price of your lease extension to range between £12,400 and £14,200 plus costs.

    The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Washwood Heath