Fixed-fee leasehold conveyancing in Colchester:

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Questions and Answers: Colchester leasehold conveyancing

I am on look out for some leasehold conveyancing in Colchester. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Colchester - 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 want to rent out my leasehold apartment in Colchester. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Notwithstanding that your last Colchester conveyancing lawyer is not around you can check your lease to check if it allows you to sublet the property. The rule is that if the lease is non-specific, subletting is allowed. There may be a precondition that you are obliged to seek permission via your landlord or some other party prior to subletting. This means that you cannot sublet in the absence of first obtaining permission. Such consent is not allowed to be unreasonably withheld. If the lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.

Back In 2003, I bought a leasehold house in Colchester. Conveyancing and Aldermore mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Colchester who acted for me is not around.Do I pay?

The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to instruct a Colchester conveyancing firm to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Can you provide any advice for leasehold conveyancing in Colchester with the aim of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Colchester can be bypassed if you get in touch lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers representatives.
  • The majority landlords or Management Companies in Colchester charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Colchester.
  • A minority of Colchester leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly 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 purchasers or their solicitors.
  • If you have the benefit of shareholding in the freehold, you should make sure that you have the original share document. Organising a re-issued share certificate is often a time consuming process and frustrates many a Colchester conveyancing deal. Where a duplicate share is needed, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but you should verify this by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 80 years. In the circumstances it is important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • We expect to complete our sale of a £400000 flat in Colchester next week. The managing agents has quoted £312 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Colchester?

    Colchester conveyancing on leasehold maisonettes normally necessitates the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be content to assist. They are entitled charge a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is not strictly payable. Reality however dictates that one has little option but to pay whatever is demanded should you wish to sell the property.

    Leasehold Conveyancing in Colchester - Examples of Queries before Purchasing

      The answer will be useful as a) areas could cause problems in the building as the communal areas may start to deteriorate where services remain unpaid b) if the tenants have a dispute with the running of the building you will want to have complete disclosure Where a Colchester lease has no more than 80 years it will impact the marketability of the property. Check with your lender that they are content with remaining years on the lease. A short lease means that you will almost definitely need a lease extension sooner rather than later and it is worth finding out how much this will be. For most Colchesterlease extensions you would be be obliged to have been the owner of the premises for two years before you are entitled to extend the lease. Can you tell me if there are any major works anticipated that will increase the maintenance costs?

    Other Topics

    Lease Extensions in Colchester