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Common questions relating to Chellaston leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Chellaston. Before I set the wheels in motion I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Chellaston - 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.

Frank (my husband) and I may need to let out our Chellaston 1st floor flat temporarily due to a new job. We instructed a Chellaston conveyancing firm in 2002 but they have since shut and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?

Notwithstanding that your last Chellaston conveyancing lawyer is not around you can review your lease to check if you are permitted to let out the apartment. The rule is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you must seek permission via your landlord or other appropriate person in advance of subletting. The net result is you not allowed to sublet in the absence of first obtaining permission. Such consent should not be unreasonably refused ore delayed. If your lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.

I today plan to offer on a house that appears to be perfect, at a great figure which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Chellaston. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Chellaston ?

The majority of houses in Chellaston are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Chellaston in which case you should be shopping around for a Chellaston conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor will report to you on the legal implications.

I am employed by a busy estate agency in Chellaston where we have witnessed a number of flat sales put at risk as a result of short leases. I have received inconsistent advice from local Chellaston conveyancing firms. Can you shed some light as to whether the vendor of a flat can initiate the lease extension formalities for the buyer?

As long as 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. This means that the buyer 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 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 purchaser.

Can you provide any top tips for leasehold conveyancing in Chellaston with the aim of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Chellaston can be reduced if you appoint lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ lawyers.
  • The majority landlords or Management Companies in Chellaston levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Chellaston.
  • If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Chellaston leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord consenting to such changes. Should you fail to have the consents to hand do not communicate with the landlord without checking with your conveyancer before hand.
  • A minority of Chellaston leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying 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.
  • You may think that you are aware of 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 proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. It is therefore important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Chellaston Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing

      How much is the annual service fee and ground rent? This information is helpful as a) areas can cause problems for the block as the communal areas may begin to deteriorate if maintenance are not paid for b) if the tenants have an issue with the managing agents you will want to have complete disclosure What is the name of the managing agents?

    Other Topics

    Lease Extensions in Chellaston