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When it comes to leasehold conveyancing in Bloxham, you will need to chose a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Clydesdale , Yorkshire Building Society or NatWest be sure to choose a lawyer on their panel. Feel free to use our search tool

Top Five Questions relating to Bloxham leasehold conveyancing

Looking forward to exchange soon on a garden flat in Bloxham. Conveyancing solicitors have said that they report fully on Monday. What should I be looking out for?

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

  • The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
  • The total extent of the premises. This will be the property itself but could also incorporate a roof space or cellar if appropriate.
  • You need to be told what counts as a Nuisance in the lease
  • 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
  • You should have a good understanding of the insurance provisions
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • What you can do if a neighbour is in violation of a provision in their lease? For details of the information to be included in your report on your leasehold property in Bloxham please enquire of your lawyer in ahead of your conveyancing in Bloxham

    • Back In 2004, I bought a leasehold flat in Bloxham. Conveyancing and Birmingham Midshires mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Bloxham who acted for me is not around.Any advice?

    The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Bloxham conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am attracted to a couple of apartments in Bloxham both have about fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

    There are no two ways about it. A leasehold apartment in Bloxham is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. The majority of purchasers and banks, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Bloxham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

    What are your top tips when it comes to finding a Bloxham conveyancing firm to deal with our lease extension?

    If you are instructing a property lawyer for lease extension works (regardless if they are a Bloxham conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Bloxham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

    • If the firm is not ALEP accredited then what is the reason?
  • What volume of lease extensions has the firm completed in Bloxham in the last year?

    • Do you have any advice for leasehold conveyancing in Bloxham from the perspective of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Bloxham can be avoided where you get in touch lawyers as soon as you market your property and ask them to put together the leasehold information needed by the purchasers’ solicitors.
    • Many landlords or managing agents in Bloxham charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Bloxham.
  • Some Bloxham leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying 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 have had conflict with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve 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 will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as historic rather than ongoing.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 75 years. It is therefore essential 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.

    • I acquired a split level flat in Bloxham, conveyancing formalities finalised 2001. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Bloxham with an extended lease are worth £225,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease ceases on 21st October 2089

    With only 64 years unexpired the likely cost is going to span between £16,200 and £18,600 plus legals.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.

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    Lease Extensions in Bloxham