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When it comes to leasehold conveyancing in Bampton, you will need to appoint a conveyancing practitioner with leasehold experience. Whether your lender is to be Lloyds, Birmingham Midshires or NatWest make sure you find a lawyer on their approved list. Feel free to use our search tool

Questions and Answers: Bampton leasehold conveyancing

Planning to complete next month on a studio apartment in Bampton. Conveyancing solicitors have said that they are sending me a report on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Bampton should include some of the following:

  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • 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
  • 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
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames
  • What options are open to you if a neighbour is in violation of a provision in their lease?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Bampton please ask your solicitor in ahead of your conveyancing in Bampton

    • I have just appointed agents to market my ground floor apartment in Bampton.Conveyancing has not commenced but I have just received a yearly maintenance charge invoice – what should I do?

    It best that you clear the invoice 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 managing agents 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.

    My wife and I purchased a leasehold house in Bampton. Conveyancing and Santander mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Bampton who previously acted has long since retired.What should I do?

    The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Bampton conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am looking at a two maisonettes in Bampton both have about 50 years remaining on the lease term. Do I need to be concerned?

    A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this field

    In relation to leasehold conveyancing in Bampton what are the most frequent lease defects?

    There is nothing unique about leasehold conveyancing in Bampton. All leases are individual and drafting errors can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the premises
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, The Mortgage Works, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.

    Leasehold Conveyancing in Bampton - Examples of Questions you should ask before Purchasing

      It would be prudent to find out as much as you can about the managing agents as they can either make living at the property much easier or problematic. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to practical matters such as the tidiness of the communal areas. Ask prospective neighbours whether they are happy with them. Finally, be sure you understand the dates that the maintenance fees are due to the relevant party and precisely how they are spending that money. How much is the maintenance charge and ground rent on the property? The prefered form of lease arrangement is if the freehold interest is in the ownership of the leaseholders. In this arrangement the tenants have being in charge if their destiny and although a managing agent is often employed where the building is larger than a house conversion, the managing agent retained by the leaseholders.

    Other Topics

    Lease Extensions in Bampton