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

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Leasehold conveyancing in Aylesbury is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Aylesbury and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Recently asked questions relating to Aylesbury leasehold conveyancing

Expecting to exchange soon on a leasehold property in Aylesbury. Conveyancing lawyers inform me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

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

  • The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • You must be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required For a comprehensive list of information to be included in your report on your leasehold property in Aylesbury please ask your lawyer in ahead of your conveyancing in Aylesbury

    • I have just started marketing my ground floor flat in Aylesbury.Conveyancing is yet to be initiated but I have just had a quarterly service charge demand – Do I pay up?

    The sensible thing to do is pay 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 until 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. Having a clear account will assist your cause and will leave you no worse off financially.

    I am looking at a couple of apartments in Aylesbury both have in the region of fifty years left on the lease term. Do I need to be concerned?

    There are plenty of short leases in Aylesbury. The lease is a right to use the property for a prescribed time frame. As the lease shortens the value of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area

    Do you have any top tips for leasehold conveyancing in Aylesbury with the purpose of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Aylesbury can be bypassed where you instruct lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the buyers lawyers.
    • The majority freeholders or Management Companies in Aylesbury levy fees for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Aylesbury.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Aylesbury state that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such works. If you fail to have the consents in place you should not communicate with the landlord without contacting your conveyancer in advance.
  • A minority of Aylesbury leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you hold a share in a the Management Company, you should ensure that you hold the original share document. Obtaining a re-issued share certificate can be a lengthy process and slows down many a Aylesbury conveyancing transaction. If a new share is required, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.

    • If all goes to plan we aim to complete the disposal of our £425000 flat in Aylesbury in 8 days. The landlords agents has quoted £372 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Aylesbury?

    Aylesbury conveyancing on leasehold maisonettes often requires the buyer’s lawyer sending questions for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions most will be willing to do so. They are entitled levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some situations it exceeds £800. The management information fee invoiced by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, without which the invoice is technically not due. In reality you have no option but to pay whatever is demanded should you wish to sell the property.

    Aylesbury Conveyancing for Leasehold Flats - A selection of Queries Prior to buying

      Where a Aylesbury lease has less than 80 years it will impact the marketability of the apartment. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. A short lease means that you will most likely have to extend the lease at some point and it is worth discovering what this would cost. Remember, in most cases you would be required to have owned the premises for two years in order to be eligible to exercise a lease extension. The answer will be helpful as a) areas may result in problems in the building as the communal areas may begin to deteriorate if services remain unpaid b) if the tenants have a dispute with the managing agents you will want to have all the details Many Aylesbury leasehold properties will be liable to pay a service charge for maintenance of the block set by the management company. Should you buy the apartment you will have to meet this contribution, normally periodically accross the year. This may differ from two or three hundred pounds to thousands of pounds for buildings with lifts and large common grounds. In all probability there will be a ground rent for you to pay annual, this is usually not a significant sum, say about £50-£100 but you should to enquire it because on occasion it can be surprisingly expensive.

    Other Topics

    Lease Extensions in Aylesbury