Fixed-fee leasehold conveyancing in Allestree:

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When it comes to leasehold conveyancing in Allestree, you will need to chose a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Lloyds, Yorkshire Building Society or NatWest be sure to find a lawyer on their panel. Feel free to use our search tool

Allestree leasehold conveyancing: Q and A’s

I am in need of some leasehold conveyancing in Allestree. Before I get started I want to be sure as to the remaining lease term.

Assuming the lease is registered - and 99.9% are in Allestree - 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.

Having checked my lease I have discovered that there are only 62 years unexpired on my lease in Allestree. I now want to get lease extension but my freeholder is missing. What are my options?

If 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 extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to locate the lessor. In some cases an enquiry agent may be helpful to carry out a search and to produce an expert document which can be used as evidence that the landlord can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Allestree.

My wife and I purchased a leasehold flat in Allestree. Conveyancing and Leeds Building Society mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Allestree who acted for me is not around.Any advice?

First make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Allestree conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Can you provide any top tips for leasehold conveyancing in Allestree with the aim of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Allestree can be avoided if you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ representatives.
  • The majority landlords or Management Companies in Allestree levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have 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 frequent cause of delay in leasehold conveyancing in Allestree.
  • If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Allestree state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord acquiescing to such works. Should you fail to have the approvals in place you should not contact the landlord without checking with your conveyancer before hand.
  • A minority of Allestree leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you are supposed to have a share in the freehold, you should ensure that you have the original share certificate. Organising a replacement share certificate is often a lengthy process and frustrates many a Allestree home move. If a reissued share is needed, you should approach the company officers or managing agents (where applicable) for this sooner rather than later.

    • What makes a Allestree lease problematic?

    There is nothing unique about leasehold conveyancing in Allestree. All leases are unique and drafting errors can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the premises
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Skipton Building Society, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.

    I am the registered owner of a studio flat in Allestree, conveyancing formalities finalised in 2006. 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 Allestree with a long lease are worth £232,000. The ground rent is £55 per annum. The lease ceases on 21st October 2076

    With just 55 years left to run we estimate the premium for your lease extension to span between £26,600 and £30,800 as well as legals.

    The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Allestree