Fixed-fee leasehold conveyancing in Binstead:

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When it comes to leasehold conveyancing in Binstead, you will need to instruct a conveyancing lawyer with leasehold experience. Whether your lender is to be Santander, RBS or NatWest make sure you find a lawyer on their panel. Find a Binstead conveyancing lawyer with our search tool

Frequently asked questions relating to Binstead leasehold conveyancing

I’m about to sell my garden flat in Binstead.Conveyancing has not commenced but I have just received a yearly service charge demand – should I leave it to the buyer to sort out?

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 own a leasehold flat in Binstead. Conveyancing and Barclays mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Binstead who previously acted has now retired.Do I pay?

First make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Binstead conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

What are your top tips when it comes to appointing a Binstead conveyancing practice to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Binstead conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Binstead conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • How experienced is the practice with lease extension legislation?
  • What are the charges for lease extension conveyancing?

    • Can you provide any top tips for leasehold conveyancing in Binstead from the point of view of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Binstead can be avoided where you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the buyers conveyancers.
    • The majority landlords or Management Companies in Binstead levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Binstead.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Binstead state that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord approving such changes. If you dont have the consents in place you should not communicate with the landlord without checking with your lawyer in the first instance.
  • A minority of Binstead leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The 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 buyers or their solicitors.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • What makes a Binstead lease problematic?

    There is nothing unique about leasehold conveyancing in Binstead. All leases is drafted differently and drafting errors can result in certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the building
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Leeds Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.

    Binstead Conveyancing for Leasehold Flats - A selection of Questions you should ask before buying

      Its a good idea to find out as much as possible regarding the company managing the block as they will either make your life much simpler or uncomfortable. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to practical issues such as the tidiness of the common parts. You should not be afraid to ask other people what they think of their management. In conclusion, investigate as to the dates that the maintenance fees are due to the managing agents and specifically what it includes. How is the lease structured? How many of the leaseholders are in arrears for their service charge payments?

    Other Topics

    Lease Extensions in Binstead