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

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Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Chathill, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in Chathill

I am on look out for some leasehold conveyancing in Chathill. Before diving in I would like to find out the remaining lease term.

If the lease is registered - and almost all are in Chathill - 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.

I am looking at a couple of maisonettes in Chathill both have approximately fifty years left on the lease term. Will this present a problem?

A lease is a right to use the premises for a period of time. As the lease shortens the saleability of the lease reduces and results in it becoming more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena

I am employed by a busy estate agency in Chathill where we see a few flat sales jeopardised due to short leases. I have received inconsistent advice from local Chathill conveyancing firms. Could you confirm whether the seller of a flat can commence the lease extension formalities for the buyer?

Provided that 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. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. 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.

What advice can you give us when it comes to choosing a Chathill conveyancing firm to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Chathill conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Chathill conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • What volume of lease extensions has the firm carried out in Chathill in the last 12 months?
  • Can they put you in touch with client in Chathill who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Chathill with the purpose of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Chathill can be bypassed where you instruct lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information needed by the purchasers’ representatives.
    • Many landlords or Management Companies in Chathill charge for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Chathill.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing 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 will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than ongoing.
  • If you are supposed to have a share in the freehold, you should ensure that you hold the original share certificate. Obtaining a duplicate share certificate is often a time consuming formality and delays many a Chathill conveyancing transaction. Where a new share is needed, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible.
  • You believe that you know the number of years left on your lease but you should double-check via your solicitors. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is less than 80 years. It is therefore essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Chathill Leasehold Conveyancing - A selection of Queries before buying

      Does the lease include onerous restrictions? Who manages the building? Can you tell me if there are any major works in the near future that will increase the maintenance fees?

    Other Topics

    Lease Extensions in Chathill