Fixed-fee leasehold conveyancing in Chaddesden:

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Chaddesden leasehold conveyancing: Q and A’s

I only have 72 years left on my flat in Chaddesden. I now wish to extend my lease but my freeholder is missing. What should I do?

If 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 enable the lease to be extended by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to find the freeholder. For most situations an enquiry agent would be useful to conduct investigations and to produce a report to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court covering Chaddesden.

I own a leasehold flat in Chaddesden. Conveyancing and Chelsea Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Chaddesden who acted for me is not around.What should I do?

First make enquiries of HMLR to be sure that this person is indeed the new freeholder. It is not necessary to instruct a Chaddesden conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I've recently bought a leasehold flat in Chaddesden. Am I liable to pay 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 be sure 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).

Can you provide any advice for leasehold conveyancing in Chaddesden with the intention of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Chaddesden can be reduced where you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers.
  • Many freeholders or Management Companies in Chaddesden charge for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack 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 usual cause of frustration in leasehold conveyancing in Chaddesden.
  • If you have had conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be concerned about purchasing a flat where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle 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 particulars 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 make sure that you are holding the original share certificate. Obtaining a new share certificate can be a time consuming process and slows down many a Chaddesden conveyancing deal. Where a reissued share certificate is required, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but it would be advisable double-check via your lawyers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is less than 75 years. In the circumstances it is essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • What makes a Chaddesden lease unacceptable for security purposes?

    Leasehold conveyancing in Chaddesden is not unique. All leases is drafted differently and legal mistakes in the legal wording 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
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Virgin Money, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.

    Chaddesden Conveyancing for Leasehold Flats - A selection of Questions you should ask before buying

      It would be sensible to find out as much as you can about the company managing the block as they will impact your use and enjoyment of the property. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to day to day issues such as the tidiness of the communal areas. You should not be afraid to ask other people if they are happy with their management. Finally, be sure you know the dates that the maintenance fees are due to the relevant party and precisely what it includes. Who is in charge of the building? The best form of lease structure is where the freehold reversion is owned by the leaseholders. In this arrangement the tenants enjoy being in charge if their destiny and even though a managing agent is usually employed where the building is larger than a house conversion, the managing agent is directed by the tenants.

    Other Topics

    Lease Extensions in Chaddesden