Questions and Answers: Dunstable leasehold conveyancing
I have recently realised that I have Seventy years unexpired on my flat in Dunstable. I now want to extend my lease but my landlord is absent. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application 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 magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to find the lessor. For most situations an enquiry agent would be useful to try and locate and prepare an expert document to be used as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Dunstable.
Due to exchange soon on a basement flat in Dunstable. Conveyancing solicitors have said that they report fully on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Dunstable should include some of the following:
- Does the lease require carpeting throughout thus preventing wood flooring?
I’m about to sell my 2 bed flat in Dunstable.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge invoice – what should I do?
It best that you discharge the service charge 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 managing agents 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. This will smooth the conveyancing process.
Do you have any advice for leasehold conveyancing in Dunstable with the aim of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Dunstable can be bypassed if you appoint lawyers the minute your agents start marketing the property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors.
- In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Dunstable state that internal structural changes or addition of wooden flooring require a licence issued by the Landlord approving such works. Where you fail to have the consents to hand do not contact the landlord without contacting your conveyancer in the first instance.
When it comes to leasehold conveyancing in Dunstable what are the most frequent lease problems?
Leasehold conveyancing in Dunstable is not unique. All leases are individual and drafting errors can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
- 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.
- Service charge per centages that don't add up correctly leaving a shortfall
You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Leeds Building Society, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to pull out.
Leasehold Conveyancing in Dunstable - Sample of Queries Prior to Purchasing
It is important to be aware whether redecorating or some other major work is due in the foreseeable future that will be shared amongst the tenants and will dramatically increase the the service costs or necessitate a one off invoice.
Can you inform me if there are any major works on the horizon that will increase the maintenance charges?
The best form of lease structure is a share of the freehold. In this scenario the lessees enjoy being in charge if their destiny and even though a managing agent is frequently retained where it is bigger than a house conversion, the managing agent retained by the leaseholders.