Guaranteed fixed fees for Leasehold Conveyancing in Chesham

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Leasehold conveyancing in Chesham is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Chesham and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Recently asked questions relating to Chesham leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Chesham. Before I get started I want to be sure as to the unexpired term of the lease.

Assuming the lease is registered - and most are in Chesham - 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 employed by a busy estate agency in Chesham where we have witnessed a few flat sales derailed as a result of short leases. I have received conflicting advice from local Chesham conveyancing firms. Can you confirm whether the vendor of a flat can start the lease extension formalities for the buyer?

Provided that 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 has to be done prior to, or simultaneously with completion of the sale.

An alternative approach is 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.

Do you have any top tips for leasehold conveyancing in Chesham with the aim of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Chesham can be avoided if you instruct lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation needed by the buyers lawyers.
  • The majority freeholders or Management Companies in Chesham levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to 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 common cause of delay in leasehold conveyancing in Chesham.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Chesham state that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord consenting to such changes. Should you dont have the consents in place you should not communicate with the landlord without contacting your solicitor before hand.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be concerned about purchasing a flat where a dispute is ongoing. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. 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 particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than ongoing.
  • If you hold a share in a the Management Company, you should ensure that you hold the original share certificate. Obtaining a new share certificate is often a time consuming formality and delays many a Chesham home move. If a new share certificate is necessary, you should approach the company officers or managing agents (if applicable) for this sooner rather than later.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £250000 maisonette in Chesham in just under a week. The managing agents has quoted £300 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Chesham?

    Chesham conveyancing on leasehold flats normally involves the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries the majority will be willing to assist. They are at liberty charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some situations it is above £800. The management information fee invoiced by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is not strictly payable. Reality however dictates that you have no choice but to pay whatever is demanded if you want to complete the sale of your home.

    Are there common deficiencies that you come across in leases for Chesham properties?

    There is nothing unique about leasehold conveyancing in Chesham. All leases are individual and legal mistakes in the legal wording can result in certain sections are not included. 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
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, The Royal Bank of Scotland, and TSB 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 problematic they may refuse to provide security, obliging the buyer to withdraw.

    Chesham Conveyancing for Leasehold Flats - Examples of Queries Prior to buying

      The best form of lease structure is where the freehold title is owned by the leaseholders. In this scenario the leaseholders have being in charge if their destiny and notwithstanding that a managing agent is usually retained where it is bigger than a house conversion, the managing agent retained by the leaseholders. You should want to discover as much as possible concerning the managing agents as they will either make life much easier or uncomfortable. Being a leasehold owner you are often at the mercy of the managing agents from a financial perspective and when it comes to day to day matters like the cleanliness of the common parts. Ask other people what they think of them. In conclusion, be sure you understand the dates that the service fees are due to the relevant party and specifically what you get for your money. Best to be warned whether fixing the lift or some other significant cost is due in the foreseeable future to be shared between the tenants and will dramatically increase the the service fees or require a specific payment.

    Other Topics

    Lease Extensions in Chesham