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

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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Bourne End, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Top Five Questions relating to Bourne End leasehold conveyancing

Expecting to complete next month on a basement flat in Bourne End. Conveyancing solicitors have said that they will have a report out to me next week. What should I be looking out for?

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

  • The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • Does the lease prohibit wood flooring?
  • Are pets allowed in the flat?
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? For a comprehensive list of information to be included in your report on your leasehold property in Bourne End please enquire of your conveyancer in advance of your conveyancing in Bourne End

    • I have just started marketing my garden apartment in Bourne End.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge demand – Do I pay up?

    It best that you clear the invoice 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 managing agents 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 am looking at a couple of apartments in Bourne End both have approximately 50 years left on the leases. Should I regard a short lease as a deal breaker?

    There is no doubt about it. A leasehold apartment in Bourne End is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of buyers and mortgage companies, leases with under 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 a residence 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 Bourne End conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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 the agreed 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 advice can you give us when it comes to finding a Bourne End conveyancing practice to carry out our lease extension conveyancing?

    If you are instructing a property lawyer for lease extension works (regardless if they are a Bourne End conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Bourne End conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

    • How many lease extensions has the firm completed in Bourne End in the last 12 months?
  • What are the charges for lease extension work?

    • Do you have any advice for leasehold conveyancing in Bourne End from the perspective of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Bourne End can be reduced if you get in touch lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information which will be required by the buyers solicitors.
    • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Bourne End state that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord approving such alterations. If you fail to have the consents to hand do not contact the landlord without checking with your lawyer in advance.
  • Some Bourne End leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 lawyers.
  • If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share document. Obtaining a duplicate share certificate can be a lengthy formality and frustrates many a Bourne End home move. If a duplicate share certificate is needed, do contact the company officers or managing agents (if relevant) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but it would be advisable double-check via 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 under 80 years. In the circumstances it is important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • Leasehold Conveyancing in Bourne End - Sample of Queries Prior to Purchasing

      Be sure to discover if the the lease includes any onerous restrictions in the lease. For instance plenty of leases prohibit pets being permitted in certain buildings in Bourne End. If you like the flatin Bourne End however your cat can’t make the move with you then you have a very difficult decision. How much is the yearly service fee and ground rent? Are there any major works in the near future that will increase the maintenance charges?

    Other Topics

    Lease Extensions in Bourne End