Fixed-fee leasehold conveyancing in Chigwell:

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While any conveyancing practice can theoretically handle your leasehold conveyancing in Chigwell, 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 Chigwell leasehold conveyancing

I am on look out for some leasehold conveyancing in Chigwell. Before diving in I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and almost all are in Chigwell - 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.

Due to complete next month on a leasehold property in Chigwell. Conveyancing lawyers have said that they report fully on Monday. Are there areas in the report that I should be focusing on?

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

  • You should receive a copy of the lease
  • You should be told what constitutes a Nuisance in the lease
  • You should have a good understanding of the insurance provisions
  • 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.
  • 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
  • What options are open to you if a neighbour breach a clause of their lease?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Chigwell please enquire of your lawyer in advance of your conveyancing in Chigwell

    • I am looking at a two apartments in Chigwell both have in the region of forty five years remaining on the leases. Will this present a problem?

    There are plenty of short leases in Chigwell. The lease is a right to use the property for a period of time. As a lease shortens the marketability of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this arena

    I am a negotiator for a reputable estate agent office in Chigwell where we see a few flat sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Chigwell conveyancing solicitors. Could you clarify whether the owner of a flat can instigate the lease extension formalities for the buyer?

    As long as 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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

    An alternative approach is 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 buyer.

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

    • A significant proportion of the frustration in leasehold conveyancing in Chigwell can be bypassed if you appoint lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information which will be required by the purchasers’ solicitors.
    • The majority freeholders or Management Companies in Chigwell levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Chigwell.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Chigwell leases often stipulate that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord acquiescing to such works. If you dont have the paperwork in place you should not communicate with the landlord without checking with your conveyancer in the first instance.
  • If you hold a share in a the Management Company, you should make sure that you have the original share document. Arranging a replacement share certificate can be a lengthy formality and frustrates many a Chigwell conveyancing transaction. If a new share certificate is needed, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I inherited a a ground floor purpose built flat in Chigwell. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?

    Most definitely. We are happy to put you in touch with a Chigwell conveyancing firm who can help.

    An example of a Freehold Enfranchisement matter before the tribunal for a Chigwell residence is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case affected 2 flats. The unexpired term was 69.26 years.

    Other Topics

    Lease Extensions in Chigwell