Guaranteed fixed fees for Leasehold Conveyancing in Fenny Stratford

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Sample questions relating to Fenny Stratford leasehold conveyancing

Expecting to complete next month on a leasehold property in Fenny Stratford. Conveyancing lawyers assured me that they are sending me a report next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Fenny Stratford should include some of the following:

  • The physical extent of the premises. This will be the flat itself but could also include a loft or cellar if appropriate.
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • What you can do if a neighbour is in violation of a provision in their lease?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Fenny Stratford please enquire of your conveyancer in ahead of your conveyancing in Fenny Stratford

    • I own a leasehold flat in Fenny Stratford. Conveyancing and Alliance & Leicester mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Fenny Stratford who acted for me is not around.What should I do?

    The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. You do not need to incur the fees of a Fenny Stratford conveyancing practitioner to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am attracted to a couple of flats in Fenny Stratford which have about 50 years remaining 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 prescribed time frame. As a lease gets shorter the marketability of the lease deteriorate and it becomes more costly to acquire a lease extension. 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 may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena

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

    Where the service charge has already been demanded from the previous lessee 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. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).

    Can you offer any advice when it comes to finding a Fenny Stratford conveyancing practice to deal with our lease extension?

    When appointing a solicitor for lease extension works (regardless if they are a Fenny Stratford conveyancing firm) it is most important 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 Fenny Stratford conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

    • If they are not ALEP accredited then what is the reason?
  • Can they put you in touch with client in Fenny Stratford who can give a testimonial?

    • I acquired a garden flat in Fenny Stratford, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Equivalent properties in Fenny Stratford with over 90 years remaining are worth £267,000. The average or mid-range amount of ground rent is £45 levied per year. The lease runs out on 21st October 2091

    With only 66 years left to run the likely cost is going to range between £14,300 and £16,400 plus costs.

    The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should 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 Fenny Stratford