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

Get a Quote

Whether you are buying or selling leasehold flat in Chatteris, our panel of leasehold conveyancing experts will help you move with as little stress as possible. Find a Chatteris conveyancing lawyer with our search tool

Examples of recent questions relating to leasehold conveyancing in Chatteris

I own a leasehold house in Chatteris. Conveyancing and Chelsea Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Chatteris who previously acted has now retired.What should I do?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Chatteris conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Last month I purchased a leasehold property in Chatteris. Do I have any liability for service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous lessee 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. A critical element 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 a negotiator for a reputable estate agent office in Chatteris where we have experienced a few flat sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Chatteris conveyancing solicitors. Can you confirm whether the seller of a flat can initiate the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 advice for leasehold conveyancing in Chatteris with the intention of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Chatteris can be reduced if you get in touch lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information which will be required by the purchasers’ conveyancers.
  • The majority landlords or managing agents in Chatteris charge for supplying management packs for a leasehold premises. You or your lawyers should discover 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 receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Chatteris.
  • A minority of Chatteris leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (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 you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share certificate. Arranging a duplicate share certificate can be a time consuming formality and frustrates many a Chatteris conveyancing deal. If a reissued share certificate is required, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but you should verify this via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is less than 80 years. It is therefore essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • What makes a Chatteris lease defective?

    Leasehold conveyancing in Chatteris is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, The Mortgage Works, and Britannia 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 is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.

    Chatteris Conveyancing for Leasehold Flats - Examples of Questions you should ask before Purchasing

      Best to be warned whether redecorating or some other significant cost is anticipated to be shared by the tenants and will dramatically increase the the service fees or necessitate a one time invoice. It would be wise to investigate if the the lease contains any onerous restrictions in the lease. For example plenty of leases prohibit pets being permitted in in a block in Chatteris. If you love the propertyin Chatteris but your dog is not allowed to make the move with you then you have a very hard compromise. How many of the leaseholders are in arrears for their maintenance charge payments?

    Other Topics

    Lease Extensions in Chatteris