Fixed-fee leasehold conveyancing in Bourne End:

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When it comes to leasehold conveyancing in Bourne End, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Lloyds, RBS or NatWest make sure you choose a lawyer on their approved list. Find a Bourne End conveyancing lawyer with our search tool

Top Five Questions relating to Bourne End leasehold conveyancing

I only have Seventy years unexpired on my lease in Bourne End. I now want to extend my lease but my landlord is absent. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to prove that you or your lawyers have used your best endeavours to locate the lessor. For most situations an enquiry agent may be useful to conduct investigations and to produce an expert document which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the application to the County Court covering Bourne End.

Expecting to sign contracts shortly on a leasehold property in Bourne End. Conveyancing lawyers inform me that they report fully on Monday. Are there areas in the report that I should be focusing on?

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

  • You should be sent a copy of the lease
  • The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
  • The physical extent of the premises. This will be the apartment itself but may incorporate a roof space or basement if applicable.
  • Whether your lease has a provision for a sinking fund?
  • 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.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What options are open to you if a neighbour is in violation of a provision in their lease? For details of the information to be contained in your report on your leasehold property in Bourne End please enquire of your lawyer in ahead of your conveyancing in Bourne End

    • I am looking at a two apartments in Bourne End which have about 50 years left on the leases. Should I regard a short lease as a deal breaker?

    There are plenty of short leases in Bourne End. The lease is a right to use the property for a prescribed time frame. As the lease shortens the marketability of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this area

    Can you provide any advice for leasehold conveyancing in Bourne End with the purpose of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Bourne End can be avoided if you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the buyers solicitors.
    • If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Bourne End state that internal structural changes or addition of wooden flooring require a licence issued by the Landlord consenting to such works. Should you dont have the consents to hand you should not contact the landlord without contacting your conveyancer before hand.
  • A minority of 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 should make it clear that the buyer is able to meet 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be concerned about purchasing a property where a dispute is ongoing. You may have to bite the bullet and pay 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 particulars of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to unresolved.
  • If you hold a share in a the Management Company, you should make sure that you have the original share certificate. Arranging a duplicate share certificate is often a time consuming process and slows down many a Bourne End home move. If a new share certificate is required, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.

    • Are there frequently found defects that you witness in leases for Bourne End properties?

    There is nothing unique about leasehold conveyancing in Bourne End. All leases is drafted differently and drafting errors can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the building
    • A duty to insure the building
    • 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 issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, The Mortgage Works, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.

    I purchased a ground floor flat in Bourne End, conveyancing was carried out 7 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Bourne End with a long lease are worth £255,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease expires on 21st October 2094

    With 71 years left to run we estimate the premium for your lease extension to range between £10,500 and £12,000 plus costs.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Bourne End