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

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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Coventry, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Top Five Questions relating to Coventry leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Coventry. Before diving in I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Coventry - 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.

Looking forward to sign contracts shortly on a garden flat in Coventry. Conveyancing lawyers inform me that they report fully next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Coventry should include some of the following:

  • Setting out your rights in respect of the communal areas in the block.For instance, does the lease permit a right of way over a path or staircase?
  • Does the lease prohibit wood flooring?
  • Will you be prohibited or prevented from having pets in the property?
  • Whether the lease restricts you from letting out the property, or having a home office for business
  • 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 the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Coventry please ask your conveyancer in ahead of your conveyancing in Coventry

    • I own a leasehold flat in Coventry. Conveyancing and Bank of Ireland mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Coventry who previously acted has long since retired.What should I do?

    First contact HMLR to make sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Coventry conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I work for a reputable estate agency in Coventry where we have witnessed a few flat sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Coventry conveyancing firms. Can you clarify whether the seller of a flat can initiate the lease extension process for the buyer?

    Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

    Alternatively, it may be possible 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.

    Can you offer any advice when it comes to choosing a Coventry conveyancing firm to carry out our lease extension conveyancing?

    When appointing a conveyancer for lease extension works (regardless if they are a Coventry conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Coventry conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

    • How experienced is the firm with lease extension legislation?
  • What are the legal fees for lease extension work?

    • I am the registered owner of a 1 bedroom flat in Coventry, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Similar flats in Coventry with an extended lease are worth £202,000. The ground rent is £65 invoiced annually. The lease finishes on 21st October 2087

    You have 62 years unexpired the likely cost is going to span between £20,000 and £23,000 as well as costs.

    The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Coventry