I have just appointed agents to market my 2 bed apartment in Dunstable.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge demand – what should I do?

It best that you 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 unless 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.

I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Dunstable. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

Most houses in Dunstable are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Dunstable in which case you should be looking for a Dunstable conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer will appraise you on the various issues.

I am looking at a couple of maisonettes in Dunstable both have in the region of fifty years left on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a period of time. As the lease gets shorter the saleability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena

What advice can you give us when it comes to appointing a Dunstable conveyancing practice to deal with our lease extension?

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

• What volume of lease extensions has the firm conducted in Dunstable in the last twenty four months?
• Can they put you in touch with client in Dunstable who can give a testimonial?

Do you have any advice for leasehold conveyancing in Dunstable with the aim of expediting the sale process?

• Much of the delay in leasehold conveyancing in Dunstable can be bypassed if you instruct lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the buyers conveyancers.
• Many landlords or managing agents in Dunstable levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Dunstable.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Dunstable state that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord approving such works. Where you fail to have the approvals to hand do not contact the landlord without contacting your lawyer in advance.
• A minority of Dunstable leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet 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 lawyers.
• If you hold a share in a the Management Company, you should make sure that you have the original share certificate. Arranging a new share certificate is often a lengthy formality and frustrates many a Dunstable conveyancing deal. If a new share is needed, do contact the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.

Dunstable Leasehold Conveyancing - Sample of Questions you should ask before Purchasing

The prefered form of lease arrangement is a share of the freehold. In this scenario the lessees have control and notwithstanding that a managing agent is usually employed if the building is bigger than a house conversion, the managing agent employed by the leaseholders. Where a Dunstable lease has no more than 80 years it will have adverse implications on the marketability of the property. Check with your mortgage company that they are content with remaining years on the lease. Leases with fewer than 80 years remaining means that you will almost definitely need a lease extension sooner rather than later and it is worth discovering what this would cost. For most Dunstablelease extensions you would be required to have been the owner of the property for a couple of years before you are eligible to carry out a lease extension.