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

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While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Cheddar, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Common questions relating to Cheddar leasehold conveyancing

I am in need of some leasehold conveyancing in Cheddar. Before diving in I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Cheddar - then the leasehold title will always include the short particulars 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 hoping to complete next month on a leasehold property in Cheddar. Conveyancing solicitors have said that they are sending me a report tomorrow. What should I be looking out for?

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

  • Setting out your legal entitlements in respect of the communal areas in the block.E.G., does the lease include a right of way over an accessway or hallways?
  • 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
  • Changes to the flat (alterations and additions)
  • 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.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames For details of the information to be contained in your report on your leasehold property in Cheddar please ask your conveyancer in ahead of your conveyancing in Cheddar

    • I am looking at a two flats in Cheddar both have in the region of fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

    A lease is a right to use the premises for a period of time. As the lease shortens the marketability of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area

    I've recently bought a leasehold flat in Cheddar. Do I have any liability for service charges relating to a period prior to completion of my purchase?

    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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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).

    Do you have any advice for leasehold conveyancing in Cheddar with the intention of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Cheddar can be bypassed where you get in touch lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers solicitors.
    • Many freeholders or managing agents in Cheddar charge for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Cheddar.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Cheddar state that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord consenting to such alterations. If you dont have the consents in place do not contact the landlord without checking with your solicitor first.
  • A minority of Cheddar leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to 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 clearly preferable to present the dispute as over as opposed to unresolved.

    • I acquired a 1 bedroom flat in Cheddar, conveyancing was carried out in 2002. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Cheddar with an extended lease are worth £203,000. The average or mid-range amount of ground rent is £45 per annum. The lease ceases on 21st October 2096

    With only 71 years unexpired we estimate the price of your lease extension to range between £11,400 and £13,200 as well as costs.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues 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 Cheddar