Leasehold Conveyancing in Allestree - Get a Quote from the leasehold experts approved by your lender

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When it comes to leasehold conveyancing in Allestree, you will need to chose a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Santander, Yorkshire Building Society or Bradford & Bingley make sure you choose a lawyer on their panel. Find a Allestree conveyancing lawyer with our search tool

Frequently asked questions relating to Allestree leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Allestree. Before I get started I require certainty as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Allestree - 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 62 years unexpired on my flat in Allestree. I need to extend my lease but my freeholder is absent. What options are available to me?

If 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 extended by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the landlord. On the whole an enquiry agent may be helpful to conduct investigations and prepare a report to be used as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Allestree.

I own a leasehold house in Allestree. Conveyancing and Barclays Direct mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Allestree who acted for me is not around.Do I pay?

First make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to instruct a Allestree conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that regardless, 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 advice for leasehold conveyancing in Allestree with the aim of expediting the sale process?

  • Much of the frustration in leasehold conveyancing in Allestree can be reduced where 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 buyers solicitors.
  • Many freeholders or managing agents in Allestree levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Allestree.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Allestree state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord consenting to such works. Should you fail to have the consents in place do not contact the landlord without contacting your solicitor in the first instance.
  • Some Allestree 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 financial (bank) and professional references. Any bank reference will need to confirm that the buyers are 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of 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 reveal the dispute as over rather than unsettled.

    • What are the frequently found problems that you witness in leases for Allestree properties?

    Leasehold conveyancing in Allestree is not unique. All leases are individual and drafting errors can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the premises
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Norwich and Peterborough Building Society, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    Allestree Leasehold Conveyancing - Sample of Queries before Purchasing

      How is the lease structured? Does the lease have in excess of 85 years unexpired? Please note if it is fewer than 80 years it will affect the marketability of the property. Check with your lender that they are happy with remaining years on the lease. Leases with fewer than 80 years remaining means that you will most likely need a lease extension sooner rather than later and you need to have some idea of what this will be. Remember, in most cases you would need to own the premises for two years before you are legally able to extend the lease.

    Other Topics

    Lease Extensions in Allestree