Experts for Leasehold Conveyancing in Dorking

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

Dorking leasehold conveyancing: Q and A’s

Having had my offer accepted I require leasehold conveyancing in Dorking. Before I set the wheels in motion I would like to find out the remaining lease term.

If the lease is registered - and most are in Dorking - 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 own a leasehold house in Dorking. Conveyancing and Godiva Mortgages Ltd mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Dorking who acted for me is not around.Any advice?

First make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. You do not need to incur the fees of a Dorking conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

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

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

  • Can they put you in touch with client in Dorking who can give a testimonial?
  • What are the charges for lease extension work?

    • Can you provide any top tips for leasehold conveyancing in Dorking with the intention of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Dorking can be avoided where you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the buyers conveyancers.
    • Many freeholders or Management Companies in Dorking levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Dorking.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Dorking state that internal structural changes or laying down wooden flooring calls for a licence from the Landlord acquiescing to such works. If you dont have the approvals in place do not communicate with the landlord without checking with your solicitor before hand.
  • A minority of Dorking 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 bank and professional references. Any bank reference should make it clear that the buyer is 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 buyers or their solicitors.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be warry about purchasing a flat where a dispute is unsettled. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to 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 clearly preferable to present the dispute as over rather than unresolved.

    • When it comes to leasehold conveyancing in Dorking what are the most frequent lease problems?

    There is nothing unique about leasehold conveyancing in Dorking. All leases is drafted differently and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the premises
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Leeds Building Society, and TSB all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.

    I invested in buying a leasehold flat in Dorking, conveyancing formalities finalised 10 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Dorking with an extended lease are worth £253,000. The average or mid-range amount of ground rent is £45 levied per year. The lease terminates on 21st October 2089

    With only 64 years remaining on your lease we estimate the price of your lease extension to be between £18,100 and £20,800 plus costs.

    The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should 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 Dorking