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

Sample questions relating to Bracebridge Heath leasehold conveyancing

Having checked my lease I have discovered that there are only Seventy years unexpired on my lease in Bracebridge Heath. I now wish to get lease extension but my freeholder is absent. What should I do?

On the basis that you qualify, 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 lengthened by the Court. However, you will be required to prove that you have made all reasonable attempts to track down the freeholder. In some cases a specialist should be helpful to try and locate and prepare a report to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Bracebridge Heath.

Expecting to sign contracts shortly on a garden flat in Bracebridge Heath. Conveyancing lawyers inform me that they are sending me a report on Monday. What should I be looking out for?

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

  • You should receive a copy of the lease
  • The physical extent of the demise. This will be the apartment itself but may incorporate a roof space or basement if applicable.
  • Does the lease prevent you from letting out the property, or having a home office for business
  • 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 sinking fund?
  • 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 Bracebridge Heath please ask your conveyancer in advance of your conveyancing in Bracebridge Heath

    • I've recently bought a leasehold flat in Bracebridge Heath. Do I have any liability for service charges relating to a period prior to my ownership?

    Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    Can you provide any top tips for leasehold conveyancing in Bracebridge Heath with the purpose of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Bracebridge Heath can be bypassed where you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation needed by the purchasers’ representatives.
    • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Bracebridge Heath leases often stipulate that internal structural alterations or laying down wooden flooring require a licence from the Landlord consenting to such works. If you fail to have the paperwork in place do not communicate with the landlord without checking with your conveyancer in the first instance.
  • A minority of Bracebridge Heath leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and 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 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 better to reveal the dispute as over as opposed to ongoing.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this via your solicitors. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • If all goes to plan we aim to complete our sale of a £125000 flat in Bracebridge Heath next week. The landlords agents has quoted £372 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Bracebridge Heath?

    Bracebridge Heath conveyancing on leasehold apartments normally involves the buyer’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to do so. They are at liberty levy a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, otherwise the invoice is technically not due. Reality however dictates that one has little choice but to pay whatever is demanded should you wish to sell the property.

    I purchased a 1st floor flat in Bracebridge Heath, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Bracebridge Heath with an extended lease are worth £220,000. The average or mid-range amount of ground rent is £65 yearly. The lease expires on 21st October 2087

    With 62 years left to run we estimate the premium for your lease extension to be between £19,000 and £22,000 plus plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.

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    Lease Extensions in Bracebridge Heath