Guaranteed fixed fees for Leasehold Conveyancing in Boscombe

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Boscombe leasehold conveyancing Example Support Desk Enquiries

Due to exchange soon on a garden flat in Boscombe. Conveyancing solicitors inform me that they are sending me a report tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Boscombe should include some of the following:

  • You should receive a copy of the lease
  • The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
  • The total extent of the demise. This will be the apartment itself but might incorporate a loft or cellar if applicable.
  • Does the lease prohibit wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Whether your lease has a provision for a reserve fund?
  • Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in Boscombe please ask your conveyancer in advance of your conveyancing in Boscombe

    • I own a leasehold flat in Boscombe. Conveyancing and Coventry Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Boscombe who previously acted has long since retired.Do I pay?

    First contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Boscombe conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that regardless, 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 two flats in Boscombe both have in the region of fifty years left on the leases. Will this present a problem?

    A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the marketability of the lease reduces and it becomes more costly to extend the lease. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this area

    Can you provide any top tips for leasehold conveyancing in Boscombe with the purpose of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Boscombe can be avoided if you appoint lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information needed by the purchasers’ solicitors.
    • The majority landlords or Management Companies in Boscombe levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Boscombe.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Boscombe state that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord approving such changes. Where you fail to have the consents to hand you should not contact the landlord without contacting your conveyancer in advance.
  • If there is a history of conflict 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 reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or resolve 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 particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to ongoing.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your lawyers. A buyer’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 as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Are there common deficiencies that you witness in leases for Boscombe properties?

    Leasehold conveyancing in Boscombe is not unique. All leases are individual and legal mistakes in the legal wording can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the property
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Coventry Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.

    Boscombe Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying

      How many of the leaseholders are in arrears for their maintenance charge payments? Does the lease have onerous restrictions? Be sure to discover if the the lease includes any onerous restrictions in the lease. For example it is fairly common in Boscombe leases that pets are not allowed in in a block in Boscombe. If you like the apartmentin Boscombe however your dog can’t make the move with you then you have a very difficult compromise.

    Other Topics

    Lease Extensions in Boscombe