Fixed-fee leasehold conveyancing in Cowes:

Get a Quote

Leasehold conveyancing in Cowes 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 Cowes and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Questions and Answers: Cowes leasehold conveyancing

I am on look out for some leasehold conveyancing in Cowes. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Cowes - 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 hoping to sign contracts shortly on a leasehold property in Cowes. Conveyancing solicitors have said that they report fully tomorrow. What should I be looking out for?

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

  • You should receive a copy of the lease
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Whether your lease has a provision for a reserve fund?
  • Repair and maintenance of the flat
  • 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 you can do if a neighbour is in violation of a provision in their lease? For details of the information to be contained in your report on your leasehold property in Cowes please ask your solicitor in advance of your conveyancing in Cowes

    • I have just appointed agents to market my 2 bed apartment in Cowes.Conveyancing has not commenced but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?

    The sensible thing to do is clear the invoice 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 until 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. Having a clear account will assist your cause and will leave you no worse off financially.

    I am tempted by the attractive purchase price for a couple of apartments in Cowes which have in the region of 50 years left on the leases. Will this present a problem?

    A lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is advisable to extend the lease term. More often than not 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 seek professional help from a solicitor and surveyor with experience in this area

    Can you offer any advice when it comes to choosing a Cowes conveyancing practice to deal with our lease extension?

    If you are instructing a solicitor for lease extension works (regardless if they are a Cowes conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Cowes conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

    • How experienced is the firm with lease extension legislation?
  • How many lease extensions has the firm carried out in Cowes in the last year?

    • Leasehold Conveyancing in Cowes - A selection of Queries Prior to buying

      Make sure you enquire if there are any onerous restrictions in the lease. For example some leases prohibit pets being permitted in in a block in Cowes. If you love the propertyin Cowes however your cat is not allowed to move with you then you have a very hard compromise. Who are the managing agents? The best form of lease structure is a share of the freehold. In this scenario the tenants benefit from being in charge if their destiny and notwithstanding that a managing agent is usually employed where the building is larger than a house conversion, the managing agent employed by the leaseholders.

    Other Topics

    Lease Extensions in Cowes