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

Common questions relating to Bloxwich leasehold conveyancing

I am in need of some leasehold conveyancing in Bloxwich. Before I get started I want to be sure as to the remaining lease term.

If the lease is registered - and most are in Bloxwich - then the leasehold title will always include the short particulars 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.

Having checked my lease I have discovered that there are only 62 years unexpired on my flat in Bloxwich. I am keen to extend my lease but my freeholder is absent. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to locate the landlord. For most situations an enquiry agent may be helpful to carry out a search and to produce an expert document to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to proving the landlord’s absence and the application to the County Court covering Bloxwich.

I am looking at a couple of maisonettes in Bloxwich which have approximately 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Bloxwich. The lease is a right to use the premises for a period of time. As the lease gets shorter the marketability of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this area

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

If you are instructing a solicitor for your lease extension (regardless if they are a Bloxwich conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Bloxwich conveyancing practices before you instructing a firm. If the firm 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 have they carried out in Bloxwich in the last 12 months?

    • Do you have any top tips for leasehold conveyancing in Bloxwich from the perspective of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Bloxwich can be avoided where you instruct lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ conveyancers.
    • In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Most leases in Bloxwich state that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. Should you fail to have the consents to hand do not contact the landlord without checking with your solicitor in the first instance.
  • If you have had any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. 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 details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic as opposed to ongoing.
  • If you have the benefit of shareholding in the freehold, you should make sure that you have the original share document. Arranging a new share certificate is often a lengthy formality and slows down many a Bloxwich home move. If a duplicate share is needed, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. It is therefore important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I am the registered owner of a leasehold flat in Bloxwich, conveyancing having been completed 2007. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Bloxwich with a long lease are worth £263,000. The ground rent is £45 levied per year. The lease expires on 21st October 2081

    You have 56 years unexpired we estimate the price of your lease extension to span between £30,400 and £35,200 plus professional fees.

    The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Bloxwich