Sample questions relating to Braintree leasehold conveyancing
I am in need of some leasehold conveyancing in Braintree. Before I set the wheels in motion I would like to find out the remaining lease term.
Assuming the lease is registered - and most are in Braintree - 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 Sixty One years unexpired on my lease in Braintree. I need to extend my lease but my freeholder is can not be found. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to track down the lessor. For most situations an enquiry agent may be helpful to carry out a search and prepare a report which can be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s absence and the application to the County Court overseeing Braintree.
I am hoping to complete next month on a ground floor flat in Braintree. Conveyancing lawyers have said that they report fully on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Braintree should include some of the following:
- You should be sent a copy of the lease
Do you have any advice for leasehold conveyancing in Braintree from the perspective of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Braintree can be avoided where you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
- Many landlords or Management Companies in Braintree charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. 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 Braintree.
What are the frequently found problems that you come across in leases for Braintree properties?
There is nothing unique about leasehold conveyancing in Braintree. All leases are individual and legal mistakes in the legal wording can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the property
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
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. National Westminster Bank, Barnsley Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.
Leasehold Conveyancing in Braintree - Examples of Queries before Purchasing
You should be aware that where the lease has no more than eighty years it will have adverse implications on the value of the property. Check with your mortgage company that they are happy with residual term of the lease. A short lease means that you will almost definitely need a lease extension sooner rather than later and you need to have some idea of what this would cost. For most Braintreelease extensions you would need to own the residence for 24 months in order to be entitled to extend the lease.
Does the lease contain onerous restrictions?
Its a good idea to find out as much as possible about the company managing the block as they will impact your use and enjoyment of the property. Being a leasehold owner you are often in the clutches of the managing agents from a financial perspective and when it comes to every day matters like the cleanliness of the common parts. Don't be shy to ask other tenants if they are happy with their service. Finally, find out the dates that you are obliged pay the maintenance charge to the appropriate party and precisely how they are spending the funds.