Leasehold Conveyancing in Barton under Needwood - Get a Quote from the leasehold experts approved by your lender

Get a Quote

Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Barton under Needwood, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Barton under Needwood leasehold conveyancing: Q and A’s

I’m about to sell my 2 bed apartment in Barton under Needwood.Conveyancing has not commenced but I have just had a quarterly service charge invoice – Do I pay up?

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

I am attracted to a two flats in Barton under Needwood which have in the region of 50 years unexpired on the leases. Do I need to be concerned?

A lease is a right to use the premises for a period of time. As the lease shortens the saleability of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field

What are your top tips when it comes to choosing a Barton under Needwood conveyancing firm to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Barton under Needwood conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Barton under Needwood conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

  • If they are not ALEP accredited then why not?
  • What are the costs for lease extension work?

    • Can you provide any advice for leasehold conveyancing in Barton under Needwood from the point of view of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Barton under Needwood can be reduced if you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the buyers solicitors.
    • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Barton under Needwood leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. Should you fail to have the approvals to hand do not contact the landlord without contacting your solicitor in the first instance.
  • If you have had conflict with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is ongoing. You will have to accept that you will have to discharge 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 buyers, but it is better to reveal the dispute as over rather than unresolved.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share document. Obtaining a replacement share certificate is often a time consuming process and slows down many a Barton under Needwood home move. Where a new share is necessary, do contact the company director and secretary or managing agents (if applicable) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to where the lease term is below 80 years. In the circumstances it is important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • What are the common deficiencies that you see in leases for Barton under Needwood properties?

    There is nothing unique about leasehold conveyancing in Barton under Needwood. Most leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the property
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Chelsea Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to withdraw.

    I own a basement flat in Barton under Needwood, conveyancing having been completed in 2002. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Barton under Needwood with over 90 years remaining are worth £266,000. The ground rent is £65 levied per year. The lease finishes on 21st October 2081

    With 56 years left to run the likely cost is going to be between £27,600 and £31,800 plus professional fees.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Barton under Needwood