Guaranteed fixed fees for Leasehold Conveyancing in Dronfield

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

Examples of recent questions relating to leasehold conveyancing in Dronfield

I am on look out for some leasehold conveyancing in Dronfield. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Dronfield - 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 have recently realised that I have Sixty One years remaining on my flat in Dronfield. I now wish to get lease extension but my landlord is can not be found. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you have made all reasonable attempts to find the lessor. In some cases a specialist would be helpful to carry out a search and prepare an expert document to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Dronfield.

I am a negotiator for a reputable estate agency in Dronfield where we see a number of leasehold sales derailed due to short leases. I have been given inconsistent advice from local Dronfield conveyancing solicitors. Can you confirm whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

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

An alternative approach is 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 purchaser.

Can you provide any top tips for leasehold conveyancing in Dronfield from the point of view of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Dronfield can be reduced where you get in touch lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the buyers representatives.
  • Many landlords or Management Companies in Dronfield levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Dronfield.
  • A minority of Dronfield leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you hold a share in a the freehold, you should ensure that you are holding the original share document. Organising a re-issued share certificate is often a lengthy process and frustrates many a Dronfield home move. Where a reissued share certificate is required, you should approach the company officers or managing agents (if applicable) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is under 80 years. It is therefore essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • What are the common defects that you come across in leases for Dronfield properties?

    Leasehold conveyancing in Dronfield is not unique. All leases are individual and legal mistakes in the legal wording can result in certain sections are erroneous. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the property
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Skipton Building Society, and Barclays Direct 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, obliging the purchaser to withdraw.

    Leasehold Conveyancing in Dronfield - A selection of Queries before Purchasing

      How is the lease structured? Does this lease have in excess of 90 years unexpired? It would be wise to find out if there are any onerous restrictions in the lease. For example some leases prohibit pets being permitted in certain buildings in Dronfield. If you love the flatin Dronfield yet your dog can’t live with you then you will be presented with a hard determination.

    Other Topics

    Lease Extensions in Dronfield