Leasehold Conveyancing in Edwinstowe - Get a Quote from the leasehold experts approved by your lender

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Sample questions relating to Edwinstowe leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Edwinstowe. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and almost all are in Edwinstowe - 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.

Estate agents have just been given the go-ahead to market my basement apartment in Edwinstowe.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should 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.

Back In 2006, I bought a leasehold flat in Edwinstowe. Conveyancing and Godiva Mortgages Ltd mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Edwinstowe who previously acted has now retired.Any advice?

First contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Edwinstowe conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am a negotiator for a long established estate agent office in Edwinstowe where we have witnessed a number of flat sales jeopardised due to short leases. I have received conflicting advice from local Edwinstowe conveyancing firms. Can you confirm whether the seller of a flat can commence the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 offer any advice when it comes to appointing a Edwinstowe conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Edwinstowe conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Edwinstowe conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

  • How familiar is the firm with lease extension legislation?
  • What are the legal fees for lease extension conveyancing?

  • I acquired a split level flat in Edwinstowe, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Edwinstowe with over 90 years remaining are worth £173,000. The ground rent is £55 per annum. The lease ends on 21st October 2100

    With 75 years left to run the likely cost is going to span between £9,500 and £11,000 as well as professional fees.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Edwinstowe