Fixed-fee leasehold conveyancing in Whiston:

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Whiston leasehold conveyancing: Q and A’s

I own a leasehold house in Whiston. Conveyancing and Skipton Building Society mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Whiston who acted for me is not around.Any advice?

The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Whiston conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a couple of apartments in Whiston both have about forty five years remaining on the leases. should I be concerned?

A lease is a right to use the premises for a period of time. As a lease gets shorter the marketability of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this area

Last month I purchased a leasehold flat in Whiston. Am I liable to pay service charges for periods before my ownership?

In a situation 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. However, 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).

Do you have any advice for leasehold conveyancing in Whiston from the point of view of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Whiston can be reduced if you appoint lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation needed by the buyers representatives.
  • The majority landlords or Management Companies in Whiston charge for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Whiston.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Whiston leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord consenting to such changes. Should you fail to have the paperwork to hand do not communicate with the landlord without contacting your solicitor in advance.
  • A minority of Whiston leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents 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 solicitors.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. 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 particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as historic as opposed to unsettled.

    • When it comes to leasehold conveyancing in Whiston what are the most common lease defects?

    Leasehold conveyancing in Whiston is not unique. All leases are unique and drafting errors can result in certain provisions are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, The Mortgage Works, and Britannia all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    I own a split level flat in Whiston, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Whiston with a long lease are worth £226,000. The ground rent is £65 charged once a year. The lease terminates on 21st October 2102

    With just 78 years remaining on your lease we estimate the price of your lease extension to be between £9,500 and £11,000 as well as professional fees.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Whiston