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

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Leasehold conveyancing in Calverton is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Calverton and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Sample questions relating to Calverton leasehold conveyancing

My wife and I purchased a leasehold flat in Calverton. Conveyancing and Virgin Money mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Calverton who acted for me is not around.Do I pay?

The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Calverton conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am a negotiator for a long established estate agency in Calverton where we have witnessed a number of leasehold sales derailed as a result of short leases. I have been given contradictory information from local Calverton conveyancing solicitors. Can you shed some light as to whether the seller of a flat can start the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Can you offer any advice when it comes to appointing a Calverton conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Calverton conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Calverton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • How familiar is the firm with lease extension legislation?
  • How many lease extensions has the firm carried out in Calverton in the last year?

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

    • A significant proportion of the delay in leasehold conveyancing in Calverton can be bypassed if you get in touch lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
    • Many landlords or Management Companies in Calverton charge for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Calverton.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Calverton leases often stipulate that internal structural alterations or addition of wooden flooring require a licence from the Landlord acquiescing to such changes. Where you dont have the consents to hand you should not communicate with the landlord without contacting your conveyancer before hand.
  • If there is a history of conflict with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be concerned about purchasing a flat where a dispute is unsettled. You may have to bite the bullet and discharge any arrears of service charge or settle 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 particulars of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unsettled.
  • You may think that you are aware of the number of years left on your lease but you should double-check via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • What makes a Calverton lease unacceptable for security purposes?

    There is nothing unique about leasehold conveyancing in Calverton. Most leases are individual and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the property
    • Insurance obligations
    • 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

    You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Leeds Building Society, and Britannia all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

    Calverton Leasehold Conveyancing - Sample of Questions you should ask before Purchasing

      What is the length of the lease? Most Calverton leasehold apartments will have a service bill for maintenance of the block set by the management company. Should you purchase the property you will have to pay this contribution, normally periodically accross the year. This can differ from two or three hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a ground rent to be met yearly, normally this is not a exorbitant sum, say about £50-£100 but you should to check as sometimes it can be many hundreds of pounds. The prefered form of lease structure is a share of the freehold. In this situation the tenants enjoy being in charge if their destiny and even though a managing agent is often employed where it is larger than a house conversion, the managing agent is directed by the tenants.

    Other Topics

    Lease Extensions in Calverton