Fixed-fee leasehold conveyancing in Castleton:

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Leasehold conveyancing in Castleton 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 Castleton and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Castleton leasehold conveyancing: Q and A’s

Due to complete next month on a basement flat in Castleton. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Castleton should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Will you be prohibited or prevented from having pets in the property?
  • You need to be told what counts as a Nuisance in the lease
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Castleton please ask your lawyer in advance of your conveyancing in Castleton

    • I have just appointed agents to market my ground floor flat in Castleton.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge demand – what should I do?

    The sensible thing to do is discharge 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 until 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've found a house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Castleton. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Castleton ?

    The majority of houses in Castleton are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Castleton in which case you should be looking for a Castleton conveyancing practitioner and be sure that they have experience in dealing with 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 to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor will appraise you on the various issues.

    I am attracted to a couple of flats in Castleton both have approximately 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 saleability of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena

    Can you provide any top tips for leasehold conveyancing in Castleton from the point of view of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Castleton can be avoided where 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 buyers solicitors.
    • Some Castleton leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are 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 lawyers.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to pay 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 purchasers, but it is clearly preferable to present the dispute as over as opposed to unsettled.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share certificate. Organising a replacement share certificate is often a lengthy formality and slows down many a Castleton home move. If a reissued share certificate is necessary, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be advisable verify this by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Leasehold Conveyancing in Castleton - Sample of Questions you should ask before Purchasing

      You should be aware that where the lease has less than 80 years it will impact the marketability of the flat. It is worth checking with your lender that they are content with residual term of the lease. A short lease means that you will most likely have to extend the lease at some point and it is worth finding out what this would cost. Remember, in most cases you would be be obliged to have been the owner of the residence for a couple of years in order to be legally able to carry out a lease extension. What is the annual service fee and ground rent? You should want to find out as much as you can concerning the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to every day issues such as the cleanliness of the communal areas. Don't be shy to ask other people if they are happy with their service. On a final note, investigate as to the dates that the service charges are due to the managing agents and specifically how they are spending that money.

    Other Topics

    Lease Extensions in Castleton