Fixed-fee leasehold conveyancing in Fenny Stratford:

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Any conveyancing practice can theoretically handle your leasehold conveyancing in Fenny Stratford, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in Fenny Stratford

Having had my offer accepted I require leasehold conveyancing in Fenny Stratford. Before I set the wheels in motion I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and most are in Fenny Stratford - then the leasehold title will always include the basic details 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’m about to sell my 2 bed flat in Fenny Stratford.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Fenny Stratford. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Fenny Stratford ?

The majority of houses in Fenny Stratford are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Fenny Stratford in which case you should be looking for a Fenny Stratford conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority 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 comes with conditions for example obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your solicitor should appraise you on the various issues.

Back In 2008, I bought a leasehold flat in Fenny Stratford. Conveyancing and Barclays mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Fenny Stratford who previously acted has long since retired.What should I do?

First contact the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Fenny Stratford conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Can you provide any top tips for leasehold conveyancing in Fenny Stratford with the aim of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Fenny Stratford can be avoided where you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers solicitors.
  • Some Fenny Stratford leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly 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 purchasers or their solicitors.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unsettled.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share certificate. Obtaining a duplicate share certificate is often a lengthy formality and slows down many a Fenny Stratford home move. Where a new share certificate is needed, do contact the company officers or managing agents (if relevant) for this as soon as possible.
  • You believe that you know the number of years left on your lease but you should double-check via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is less than 80 years. In the circumstances it is important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I purchased a studio flat in Fenny Stratford, conveyancing having been completed 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Fenny Stratford with over 90 years remaining are worth £193,000. The ground rent is £55 levied per year. The lease ends on 21st October 2101

    With 76 years left to run we estimate the premium for your lease extension to span between £9,500 and £11,000 plus legals.

    The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account 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 Fenny Stratford