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Eaglescliffe leasehold conveyancing Example Support Desk Enquiries

I have just started marketing my basement flat in Eaglescliffe.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge invoice – what should I do?

The sensible thing to do is clear 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.

I've found a house that appears to be perfect, at a great figure which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Eaglescliffe. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Eaglescliffe ?

The majority of houses in Eaglescliffe are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Eaglescliffe in which case you should be shopping around for a Eaglescliffe conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your lawyer should advise you fully on all the issues.

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

When appointing a conveyancer for lease extension works (regardless if they are a Eaglescliffe conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Eaglescliffe conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

  • If the firm is not ALEP accredited then what is the reason?
  • What are the legal fees for lease extension conveyancing?

    • Do you have any advice for leasehold conveyancing in Eaglescliffe from the point of view of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Eaglescliffe can be avoided if you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
    • Many freeholders or managing agents in Eaglescliffe charge for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Eaglescliffe.
  • 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 Eaglescliffe state that internal structural changes or installing wooden flooring calls for a licence from the Landlord consenting to such alterations. If you fail to have the consents to hand you should not contact the landlord without checking with your conveyancer in the first instance.
  • If you have had conflict with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and discharge 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 buyers, but it is clearly preferable to reveal the dispute as historic rather than ongoing.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Are there common deficiencies that you come across in leases for Eaglescliffe properties?

    There is nothing unique about leasehold conveyancing in Eaglescliffe. All leases is drafted differently and drafting errors 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
    • A duty to insure the building
    • 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

    You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Bank of Scotland, and TSB all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.

    I bought a 1 bedroom flat in Eaglescliffe, conveyancing formalities finalised 1998. How much will my lease extension cost? Equivalent properties in Eaglescliffe with an extended lease are worth £210,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease comes to an end on 21st October 2099

    With only 74 years left to run we estimate the premium for your lease extension to span between £10,500 and £12,000 as well as costs.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Eaglescliffe