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

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Top Five Questions relating to Billericay leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Billericay. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and almost all are in Billericay - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I want to sublet my leasehold apartment in Billericay. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

The lease governs relations between the landlord and you the leaseholder; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Billericay do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

Estate agents have just been given the go-ahead to market my 2 bed apartment in Billericay.Conveyancing is yet to be initiated but I have just had a half-yearly service charge demand – Do I pay up?

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 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.

Do you have any top tips for leasehold conveyancing in Billericay with the intention of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Billericay can be avoided if you appoint lawyers the minute you market your property and ask them to put together the leasehold information needed by the buyers lawyers.
  • Many landlords or managing agents in Billericay levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Billericay.
  • Some Billericay leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, 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 financially capable of paying 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 there is a history of conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as over as opposed to unresolved.
  • You may think that you are aware of the number of years left on your lease but you should verify this via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. It is therefore essential at an early stage that you identify 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.

    • All being well we will complete the sale of our £125000 apartment in Billericay in six days. The managing agents has quoted £300 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Billericay?

    Billericay conveyancing on leasehold maisonettes usually necessitates the purchaser’s conveyancer sending enquiries 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 may invoice 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 over three hundred pounds, in some cases it is in excess of £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, otherwise the invoice is not strictly payable. Reality however dictates that one has no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

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

      Who takes charge for maintaining and repairing the building? How is the lease structured? How many of the leaseholders are in arrears for their maintenance charge payments?

    Other Topics

    Lease Extensions in Billericay