Guaranteed fixed fees for Leasehold Conveyancing in Camelford

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Common questions relating to Camelford leasehold conveyancing

I am in need of some leasehold conveyancing in Camelford. Before I get started I would like to find out the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Camelford - then the leasehold title will always include the basic details 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.

There are only 72 years unexpired on my lease in Camelford. I now wish to get lease extension but my freeholder is missing. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you or your lawyers have made all reasonable attempts to find the freeholder. On the whole a specialist may be helpful to carry out a search and to produce an expert document to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Camelford.

I am employed by a reputable estate agency in Camelford where we see a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Camelford conveyancing solicitors. Can you confirm whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence 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 before, or simultaneously with 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 buyer.

Do you have any advice for leasehold conveyancing in Camelford with the purpose of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Camelford can be avoided if you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information needed by the purchasers’ conveyancers.
  • Many landlords or managing agents in Camelford charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Camelford.
  • A minority of Camelford 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. Any 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 purchasers or their solicitors.
  • If you have had 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 warry about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to pay 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 purchasers, but it is better to reveal the dispute as over as opposed to ongoing.
  • If you hold a share in a the Management Company, you should ensure that you are holding the original share certificate. Obtaining a new share certificate is often a lengthy formality and slows down many a Camelford home move. Where a new share certificate is needed, you should approach the company director and secretary or managing agents (if applicable) for this sooner rather than later.

    • What are the common defects that you come across in leases for Camelford properties?

    Leasehold conveyancing in Camelford is not unique. Most leases are unique and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:

    • A provision to repair 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 issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, The Mortgage Works, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to pull out.

    Camelford Leasehold Conveyancing - Examples of Queries before buying

      Best to be warned whether redecorating or some other major work is pending that will be shared between the leasehold owners and will materially increase the the service costs or necessitate a specific payment. Does the lease have onerous restrictions? Is the freehold owned collectively by the tenants?

    Other Topics

    Lease Extensions in Camelford