Quality lawyers for Leasehold Conveyancing in Chelmsley Wood

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

Frequently asked questions relating to Chelmsley Wood leasehold conveyancing

I am on look out for some leasehold conveyancing in Chelmsley Wood. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

Assuming the lease is registered - and almost all are in Chelmsley Wood - 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.

Last month I purchased a leasehold property in Chelmsley Wood. Am I liable to pay service charges for periods before completion of my purchase?

In a situation 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. However, 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).

I am employed by a long established estate agent office in Chelmsley Wood where we have experienced a number of leasehold sales put at risk as a result of short leases. I have received contradictory information from local Chelmsley Wood conveyancing solicitors. Can you clarify whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease 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 buyer need not have to sit tight for 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 disposal of the property.

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 purchaser.

Can you offer any advice when it comes to finding a Chelmsley Wood conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Chelmsley Wood conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Chelmsley Wood 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 of use:

  • If they are not ALEP accredited then what is the reason?
  • Can they put you in touch with client in Chelmsley Wood who can give a testimonial?

  • Can you provide any advice for leasehold conveyancing in Chelmsley Wood with the purpose of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Chelmsley Wood 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.
    • The majority landlords or Management Companies in Chelmsley Wood levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Chelmsley Wood.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Chelmsley Wood leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord consenting to such changes. Should you fail to have the approvals in place you should not communicate with the landlord without contacting your lawyer in advance.
  • A minority of Chelmsley Wood leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual 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 had conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may need to swallow your pride 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 prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than ongoing.

  • Chelmsley Wood Conveyancing for Leasehold Flats - Examples of Queries before buying

      If a Chelmsley Wood lease has fewer than 80 years it will affect the marketability of the flat. It is worth checking with your lender that they are happy with the length of the lease. Leases with less than 80 years remaining means that you will most likely have to extend the lease sooner rather than later and it is worth finding out what this would cost. For most Chelmsley Woodlease extensions you would be required to have owned the property for a couple of years in order to be entitled to exercise a lease extension. Is the freehold owned collectively by the tenants? It would be prudent to find out as much as possible concerning the company managing the building as they will impact your use and enjoyment of the property. As the owner of a leasehold property you will be at the mercy of the managing agents both financially and when it comes to day to day issues like the cleanliness of the communal areas. Ask other tenants whether they are happy with their management. Finally, investigate as to the dates that the service fees are due to the appropriate party and precisely what it includes.

    Other Topics

    Lease Extensions in Chelmsley Wood