Experts for Leasehold Conveyancing in Aylesbury

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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Aylesbury, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in Aylesbury

I am hoping to exchange soon on a studio apartment in Aylesbury. Conveyancing solicitors have said that they are sending me a report next week. 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 length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
  • You need to be told what constitutes a Nuisance in the lease
  • Whether your lease has a provision for a reserve fund?
  • 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
  • Responsibility for repairing the window frames
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Aylesbury please ask your lawyer in advance of your conveyancing in Aylesbury

    • My wife and I purchased a leasehold flat in Aylesbury. Conveyancing and Leeds Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Aylesbury who previously acted has long since retired.What should I do?

    First contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Aylesbury conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Last month I purchased a leasehold house in Aylesbury. Do I have any liability for service charges for periods before my ownership?

    In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    Can you provide any top tips for leasehold conveyancing in Aylesbury from the point of view of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Aylesbury can be reduced where you instruct lawyers the minute you market your property and request that they start to put together the leasehold information needed by the buyers solicitors.
    • The majority freeholders or Management Companies in Aylesbury levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Aylesbury.
  • If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Aylesbury state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord approving such alterations. If you dont have the paperwork in place do not contact the landlord without checking with your conveyancer first.
  • A minority of Aylesbury leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 buyers or their lawyers.
  • If you are supposed to have a share in the Management Company, you should make sure that you have the original share document. Obtaining a re-issued share certificate can be a time consuming process and slows down many a Aylesbury conveyancing deal. If a new share is required, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £225000 garden flat in Aylesbury in 10 days. The managing agents has quoted £300 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Aylesbury?

    Aylesbury conveyancing on leasehold flats usually involves the purchaser’s conveyancer sending questions for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries the majority will be content to do so. They are entitled charge a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it is above £800. The management information fee required by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, without which the charge is not strictly payable. In reality you have little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

    Leasehold Conveyancing in Aylesbury - Examples of Queries Prior to Purchasing

      How many of the leaseholders are in arrears for their maintenance charge payments? This information is important as a) areas can cause problems in the block as the common areas may start to deteriorate where services remain unpaid b) if the leaseholders have a dispute with the running of the building you will need to know about it What is the length of the lease?

    Other Topics

    Lease Extensions in Aylesbury