Fixed-fee leasehold conveyancing in Epping:

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When it comes to leasehold conveyancing in Epping, you will need to chose a conveyancing lawyer with leasehold experience. Whether your lender is to be Halifax, Yorkshire Building Society or Bradford & Bingley make sure you choose a lawyer on their approved list. Feel free to use our search tool

Examples of recent questions relating to leasehold conveyancing in Epping

I am in need of some leasehold conveyancing in Epping. Before diving in I would like to find out the remaining lease term.

Assuming the lease is registered - and 99.9% are in Epping - 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 today plan to offer on a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Epping. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Epping ?

The majority of houses in Epping are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Epping in which case you should be looking for a Epping conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your solicitor will advise you fully on all the issues.

I am attracted to a couple of apartments in Epping both have in the region of 50 years left on the lease term. Will this present a problem?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the value of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan 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 field

I've recently bought a leasehold flat in Epping. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any top tips for leasehold conveyancing in Epping from the perspective of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Epping can be avoided if you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ lawyers.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Epping state that internal structural changes or addition of wooden flooring require a licence from the Landlord acquiescing to such works. Should you fail to have the consents to hand you should not communicate with the landlord without contacting your solicitor in advance.
  • If you have had any disputes with your landlord or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be nervous about purchasing a property where a dispute is ongoing. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. 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 purchasers, but it is better to reveal the dispute as historic as opposed to ongoing.
  • If you hold a share in a the Management Company, you should make sure that you are holding the original share document. Obtaining a re-issued share certificate is often a lengthy process and frustrates many a Epping conveyancing transaction. If a duplicate share certificate is needed, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. It is therefore essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Epping Leasehold Conveyancing - Examples of Questions you should ask Prior to buying

      Its a good idea to find out as much as possible about the managing agents as they will either make your living at the property much easier or a lot more difficult. Being a leasehold owner you are frequently in the clutches of the managing agents both financially and when it comes to every day issues like the upkeep of the common parts. You should not be afraid to ask other tenants whether they are happy with them. Finally, find out the dates that the maintenance fees are due to the appropriate party and precisely how they are spending the funds. Make sure you find out if the the lease contains any unreasonable restrictions in the lease. By way of example some leases prohibit pets being allowed in certain buildings in Epping. If you love the apartmentin Epping but your dog can’t live with you then you will be faced hard compromise. Are any of leasehold owners in dispute over their service charge liability?

    Other Topics

    Lease Extensions in Epping