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Top Five Questions relating to Aintree leasehold conveyancing

I am on look out for some leasehold conveyancing in Aintree. Before diving in I want to be sure as to the unexpired term of the lease.

If the lease is recorded at the land registry - and most are in Aintree - 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.

There are only Seventy years remaining on my lease in Aintree. I now want to get lease extension but my freeholder is absent. What are my options?

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 for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you have done all that could be expected to track down the landlord. On the whole a specialist should be helpful to conduct investigations and to produce an expert document which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Aintree.

I am hoping to sign contracts shortly on a studio apartment in Aintree. Conveyancing lawyers inform me that they are sending me a report tomorrow. What should I be looking out for?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Will you be prohibited or prevented from having pets in the property?
  • Whether the lease restricts you from letting out the flat, or having a home office for business
  • Changes to the flat (alterations and additions)
  • 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.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames For details of the information to be contained in your report on your leasehold property in Aintree please enquire of your conveyancer in advance of your conveyancing in Aintree

    • What advice can you give us when it comes to finding a Aintree conveyancing firm to carry out our lease extension conveyancing?

    When appointing a property lawyer for your lease extension (regardless if they are a Aintree conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Aintree conveyancing practices prior to 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?
  • Can they put you in touch with client in Aintree who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in Aintree from the perspective of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Aintree can be bypassed if you get in touch lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ solicitors.
    • The majority freeholders or Management Companies in Aintree levy fees for providing management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Aintree.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Aintree state 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 consents to hand do not communicate with the landlord without checking with your solicitor in the first instance.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be warry about purchasing a flat where a dispute is unsettled. You may need to swallow your pride and discharge any arrears of service charge or settle 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 will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as over rather than unresolved.
  • If you hold a share in a the freehold, you should ensure that you have the original share document. Arranging a duplicate share certificate can be a lengthy process and frustrates many a Aintree conveyancing transaction. If a reissued share certificate is necessary, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later.

    • I invested in buying a garden flat in Aintree, conveyancing formalities finalised in 1999. 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? Similar flats in Aintree with a long lease are worth £267,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease ends on 21st October 2096

    You have 71 years left to run we estimate the price of your lease extension to range between £12,400 and £14,200 as well as legals.

    The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Aintree