Leasehold Conveyancing in Burton Bradstock - Get a Quote from the leasehold experts approved by your lender

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Burton Bradstock leasehold conveyancing Example Support Desk Enquiries

I am on look out for some leasehold conveyancing in Burton Bradstock. Before diving in I require certainty as to the remaining lease term.

Assuming the lease is registered - and 99.9% are in Burton Bradstock - 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.

I have just started marketing my basement flat in Burton Bradstock.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should pay 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 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 tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Burton Bradstock. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

Most houses in Burton Bradstock are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Burton Bradstock in which case you should be shopping around for a Burton Bradstock conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your lawyer should report to you on the legal implications.

I am attracted to a couple of flats in Burton Bradstock which have in the region of fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the value of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this area

Do you have any advice for leasehold conveyancing in Burton Bradstock with the intention of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Burton Bradstock can be avoided if you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
  • The majority freeholders or Management Companies in Burton Bradstock levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Burton Bradstock.
  • A minority of Burton Bradstock leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be warry about purchasing 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 ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic as opposed to ongoing.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share document. Organising a duplicate share certificate can be a lengthy process and slows down many a Burton Bradstock conveyancing deal. Where a reissued share certificate is required, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.

    • I bought a split level flat in Burton Bradstock, conveyancing was carried out 1996. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Burton Bradstock with an extended lease are worth £196,000. The average or mid-range amount of ground rent is £65 yearly. The lease ceases on 21st October 2089

    With 63 years remaining on your lease we estimate the price of your lease extension to span between £15,200 and £17,600 plus professional fees.

    The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Burton Bradstock