Just had an offer accepted on a new build flat in Sprotbrough. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.

Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Sprotbrough

Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?

Due to the guidance of my in-laws I had a survey completed on a property in Sprotbrough in advance of instructing solicitors. I have been informed that there is a flying freehold element to the house. My surveyor has said that some mortgage companies will not give a mortgage on a flying freehold house.

It depends who your proposed lender is. Lloyds has different requirements for example to Nationwide. If you contact us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Sprotbrough. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Sprotbrough to see if the conveyancing will be more expensive.

In what way can the Landlord & Tenant Act 1954 impact my business property in Sprotbrough and how can you help?

The particular law that you refer to affords security of tenure to commercial lessees, granting the right to apply to court for a continuation of occupancy at the end of the lease term. There are limited grounds that a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Sprotbrough is one of our many locations in which the firms we work with have offices

I work for a reputable estate agency in Sprotbrough where we see a number of leasehold sales derailed due to short leases. I have been given inconsistent advice from local Sprotbrough conveyancing firms. Can you clarify whether the seller of a flat can instigate the lease extension formalities 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

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.

Sprotbrough Conveyancing for Leasehold Flats - Examples of Queries before Purchasing

Plenty Sprotbrough leasehold apartments will be liable to pay a service charge for the upkeep of the building set by the freeholder. Where you buy the flat you will have to pay this liability, normally periodically accross the year. This could differ from several hundred pounds to thousands of pounds for bigger purpose-built blocks. In all likelihood there will be a rentcharge for you to pay yearly, normally this is not a exorbitant amount, say about £25-£75 but you need to enquire it because occasionally it can be surprisingly expensive. The answer will be useful as a) areas could cause problems in the building as the communal areas may begin to deteriorate if maintenance are not paid for b) if the leaseholders have an issue with the managing agents you will wish to know about it What restrictions are there in the Sprotbrough Lease?

We are midway through purchasing a house in Sprotbrough. Conveyancing lawyer has called to say the title is "Leasehold". Should this make a difference on our Natwest valuation?

Sprotbrough conveyancing does not in most situations involve leasehold houses. The crucial consideration here is the length of lease and the ground rent. If there are hundred of years years remaining with a nominal rent, it's almost the same as freehold, so it’s unlikely to impact the value too much.

On the flip side, if it's, say, fifty five years it will have a material effect on the value, and most likely wouldn't be acceptable to the mortgage company. The remaining lease term and ground rent will be stated in the lease provided to your conveyancing practitioner.