Experts for Leasehold Conveyancing in Alvaston

When it comes to leasehold conveyancing in Alvaston, you will need to appoint a conveyancing solicitor with leasehold experience. Whether your lender is to be Clydesdale , RBS or NatWest be sure to find a lawyer on their approved list. Feel free to use our search tool

Common questions relating to Alvaston leasehold conveyancing

I’m about to sell my ground floor apartment in Alvaston.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I've found a house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Alvaston. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

The majority of houses in Alvaston are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Alvaston so you should seriously consider looking for a Alvaston conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer should report to you on the legal implications.

My wife and I purchased a leasehold house in Alvaston. Conveyancing and The Royal Bank of Scotland mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Alvaston who acted for me is not around.Do I pay?

First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to instruct a Alvaston conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I work for a reputable estate agent office in Alvaston where we see a few flat sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Alvaston conveyancing firms. Could you shed some light as to whether the vendor of a flat can instigate the lease extension process for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with 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.

Can you provide any top tips for leasehold conveyancing in Alvaston from the perspective of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Alvaston can be avoided if you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the buyers conveyancers.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Alvaston leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. If you fail to have the approvals in place do not contact the landlord without checking with your lawyer before hand.
  • Some Alvaston leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual 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 conflict with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You will have to accept that you will have to pay 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 details of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than ongoing.
  • You believe that you know the number of years left on your lease but you should verify this via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

  • I invested in buying a garden flat in Alvaston, conveyancing having been completed 2010. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Alvaston with a long lease are worth £257,000. The ground rent is £50 invoiced annually. The lease expires on 21st October 2086

    With only 66 years left to run the likely cost is going to range between £13,300 and £15,400 as well as plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Alvaston