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

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When it comes to leasehold conveyancing in Chelmsford, you will need to chose a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Clydesdale , Birmingham Midshires or Nationwide be sure to choose a lawyer on their approved list. Feel free to use our search tool

Chelmsford leasehold conveyancing: Q and A’s

Planning to exchange soon on a garden flat in Chelmsford. Conveyancing solicitors inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?

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

  • You should be sent a copy of the lease
  • Whether the lease restricts you from letting out the property, or working from home
  • You must be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • You should have a good understanding of the insurance provisions
  • 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 a comprehensive list of information to be included in your report on your leasehold property in Chelmsford please ask your conveyancer in ahead of your conveyancing in Chelmsford

    • I today plan to offer on a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Chelmsford. Conveyancing advisers have are about to be instructed. Will they explain the issues?

    Most houses in Chelmsford are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Chelmsford in which case you should be looking for a Chelmsford conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer will appraise you on the various issues.

    I am tempted by the attractive purchase price for a two flats in Chelmsford both have in the region of 50 years unexpired on the lease term. Do I need to be concerned?

    There are plenty of short leases in Chelmsford. The lease is a right to use the premises for a period of time. As a lease gets shorter the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this field

    I am employed by a reputable estate agency in Chelmsford where we have experienced a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given contradictory information from local Chelmsford conveyancing firms. Can you shed some light as to whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?

    As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have 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 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.

    Do you have any top tips for leasehold conveyancing in Chelmsford with the aim of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Chelmsford can be bypassed if you instruct lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the purchasers’ representatives.
    • If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Chelmsford state that internal structural changes or installing wooden flooring require a licence from the Landlord acquiescing to such changes. If you dont have the consents to hand do not contact the landlord without contacting your conveyancer in advance.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. 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 details of the dispute to the purchasers, but it is better to present the dispute as historic rather than unresolved.
  • If you hold a share in a the Management Company, you should ensure that you are holding the original share certificate. Obtaining a duplicate share certificate can be a time consuming process and slows down many a Chelmsford home move. If a reissued share is required, you should approach the company officers or managing agents (if relevant) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your lawyers. A purchaser'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 below 80 years. It is therefore important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • Leasehold Conveyancing in Chelmsford - Sample of Questions you should consider Prior to buying

      Is there a share of the freehold? How much is the ground rent and service charge? Plenty Chelmsford leasehold flats will have a service bill for the upkeep of the block levied on behalf of the freeholder. If you acquire the property you will have to meet this contribution, normally in instalments during the year. This may differ from a few hundred pounds to thousands of pounds for large purpose-built buildings. In all probability there will be a ground rent to be met yearly, ordinarily this is not a significant amount, say approximately £25-£75 but you should to check as occasionally it could be prohibitively expensive.

    Other Topics

    Lease Extensions in Chelmsford