Fixed-fee leasehold conveyancing in Bridgwater:

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When it comes to leasehold conveyancing in Bridgwater, you will need to chose a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Halifax, Yorkshire Building Society or Nationwide be sure to find a lawyer on their panel. Feel free to use our search tool

Examples of recent questions relating to leasehold conveyancing in Bridgwater

Estate agents have just been given the go-ahead to market my garden flat in Bridgwater.Conveyancing has not commenced but I have just received a half-yearly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should 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 management companies will not acknowledge the buyer unless 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 hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Bridgwater. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

The majority of houses in Bridgwater are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Bridgwater so you should seriously consider looking for a Bridgwater conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer should appraise you on the various issues.

What advice can you give us when it comes to choosing a Bridgwater conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Bridgwater conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Bridgwater conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

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

    • Do you have any top tips for leasehold conveyancing in Bridgwater with the purpose of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Bridgwater can be bypassed if you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold information needed by the purchasers’ solicitors.
    • Many freeholders or managing agents in Bridgwater charge for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for 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 common reason for frustration in leasehold conveyancing in Bridgwater.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Bridgwater state that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord consenting to such works. Where you dont have the paperwork in place do not communicate with the landlord without contacting your conveyancer before hand.
  • If there is a history of any disputes 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 reluctant to purchase a flat where a dispute is unsettled. You may have to bite the bullet and discharge 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 prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unresolved.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your solicitors. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 80 years. It is therefore important at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • Are there common defects that you witness in leases for Bridgwater properties?

    There is nothing unique about leasehold conveyancing in Bridgwater. Most leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are wrong. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the premises
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • 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. Lloyds TSB Bank, Leeds Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.

    Leasehold Conveyancing in Bridgwater - Examples of Questions you should consider before Purchasing

      If a Bridgwater lease has fewer than 80 years it will have adverse implications on the salability of the flat. Check with your lender that they are happy with remaining years on the lease. Leases with less than 80 years remaining means that you will almost definitely need a lease extension sooner rather than later and it is worth finding out what this will be. Remember, in most cases you would be be obliged to have owned the premises for a couple of years in order to be entitled to extend the lease. Are there any major works anticipated that could increase the maintenance charges? Does the lease contain onerous restrictions?

    Other Topics

    Lease Extensions in Bridgwater