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

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When it comes to leasehold conveyancing in Canford Cliffs, you will need to chose a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Clydesdale , Birmingham Midshires or NatWest be sure to choose a lawyer on their panel. Find a Canford Cliffs conveyancing lawyer with our search tool

Frequently asked questions relating to Canford Cliffs leasehold conveyancing

I am in need of some leasehold conveyancing in Canford Cliffs. Before diving in I want to be sure as to the remaining lease term.

Assuming the lease is recorded at the land registry - and almost all are in Canford Cliffs - 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 Sixty One years unexpired on my flat in Canford Cliffs. I need to extend my lease but my landlord is absent. What are my options?

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 an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you have done all that could be expected to find the landlord. On the whole an enquiry agent would be useful to carry out a search and prepare an expert document which can be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a solicitor both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Canford Cliffs.

I've recently bought a leasehold property in Canford Cliffs. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I am employed by a reputable estate agency in Canford Cliffs where we have experienced a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Canford Cliffs conveyancing firms. Could you confirm whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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.

Can you provide any top tips for leasehold conveyancing in Canford Cliffs with the aim of expediting the sale process?

  • Much of the frustration in leasehold conveyancing in Canford Cliffs can be avoided if you get in touch lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the purchasers’ conveyancers.
  • Many freeholders or Management Companies in Canford Cliffs levy fees for providing management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for 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 frequent cause of frustration in leasehold conveyancing in Canford Cliffs.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Canford Cliffs leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord approving such alterations. If you dont have the paperwork to hand do not contact the landlord without checking with your conveyancer before hand.
  • Some Canford Cliffs leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual 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 there is a history of conflict with your landlord or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve 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 are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unresolved.

    • I own a 1 bedroom flat in Canford Cliffs, conveyancing formalities finalised 2005. Can you work out an approximate cost of a lease extension? Comparable properties in Canford Cliffs with an extended lease are worth £172,000. The ground rent is £60 per annum. The lease runs out on 21st October 2094

    You have 70 years unexpired the likely cost is going to range between £9,500 and £11,000 as well as professional fees.

    The suggested premium range that we have given is 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. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Canford Cliffs