Leasehold Conveyancing in Chadwell St Mary - Get a Quote from the leasehold experts approved by your lender

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

Chadwell St Mary leasehold conveyancing Example Support Desk Enquiries

I have recently realised that I have 72 years left on my lease in Chadwell St Mary. I now want to get lease extension but my freeholder is absent. What are my options?

If you qualify, 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 Court. You will be obliged to prove that you have made all reasonable attempts to track down the lessor. In some cases a specialist may be useful to conduct investigations and to produce a report which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Chadwell St Mary.

I am attracted to a two apartments in Chadwell St Mary both have approximately forty five years remaining on the lease term. should I be concerned?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease decreases and it becomes more expensive to extend the lease. 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 enfranchisement can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this area

I've recently bought a leasehold property in Chadwell St Mary. Do I have any liability for service charges for periods before completion of my purchase?

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).

What advice can you give us when it comes to finding a Chadwell St Mary conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Chadwell St Mary conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Chadwell St Mary conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • How familiar is the practice with lease extension legislation?
  • What are the charges for lease extension conveyancing?

    • Do you have any advice for leasehold conveyancing in Chadwell St Mary from the point of view of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Chadwell St Mary can be reduced if you appoint lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ representatives.
    • The majority landlords or managing agents in Chadwell St Mary charge for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Chadwell St Mary.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Chadwell St Mary leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord approving such works. Where you fail to have the consents in place do not contact the landlord without checking with your lawyer before hand.
  • If you have had conflict with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may need to swallow your pride and pay 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 are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unsettled.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to where the lease term is below 80 years. In the circumstances it is important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I invested in buying a 1 bedroom flat in Chadwell St Mary, conveyancing formalities finalised 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Chadwell St Mary with over 90 years remaining are worth £256,000. The ground rent is £55 charged once a year. The lease runs out on 21st October 2099

    With just 74 years left to run the likely cost is going to span between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Chadwell St Mary