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

Get a Quote

When it comes to leasehold conveyancing in Chipping Campden, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your lender is to be Clydesdale , RBS or NatWest be sure to choose a lawyer on their panel. Find a Chipping Campden conveyancing lawyer with our search tool

Chipping Campden leasehold conveyancing: Q and A’s

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

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

I’m about to sell my ground floor flat in Chipping Campden.Conveyancing is yet to be initiated but I have just received a yearly service charge demand – what should I do?

The sensible thing to do is discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Chipping Campden. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Chipping Campden ?

Most houses in Chipping Campden are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Chipping Campden in which case you should be looking for a Chipping Campden conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer should appraise you on the various issues.

Last month I purchased a leasehold property in Chipping Campden. Do I have any liability for service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

Can you provide any top tips for leasehold conveyancing in Chipping Campden from the point of view of expediting the sale process?

  • Much of the frustration in leasehold conveyancing in Chipping Campden can be avoided where you instruct lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information which will be required by the buyers conveyancers.
  • Many freeholders or managing agents in Chipping Campden charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Chipping Campden.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Chipping Campden leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence from the Landlord approving such alterations. Should you fail to have the paperwork to hand you should not communicate with the landlord without checking with your lawyer in the first instance.
  • A minority of Chipping Campden leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve 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 will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as over rather than unsettled.

    • I acquired a 1st floor flat in Chipping Campden, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Chipping Campden with a long lease are worth £230,000. The average or mid-range amount of ground rent is £60 per annum. The lease runs out on 21st October 2096

    With only 72 years left to run we estimate the premium for your lease extension to span between £10,500 and £12,000 plus legals.

    The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Chipping Campden