Quality lawyers for Leasehold Conveyancing in Fenstanton

Get a Quote

When it comes to leasehold conveyancing in Fenstanton, you will need to appoint a conveyancing practitioner with leasehold experience. Whether your lender is to be Halifax, Birmingham Midshires or Nationwide be sure to find a lawyer on their approved list. Feel free to use our search tool

Fenstanton leasehold conveyancing: Q and A’s

I am in need of some leasehold conveyancing in Fenstanton. Before diving in I want to be sure as to the remaining lease term.

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

Having checked my lease I have discovered that there are only Sixty One years unexpired on my flat in Fenstanton. I now want to extend my lease but my landlord is missing. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the freeholder. On the whole an enquiry agent may be useful to conduct investigations and to produce a report to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Fenstanton.

My wife and I purchased a leasehold flat in Fenstanton. Conveyancing and TSB mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Fenstanton who previously acted has long since retired.Any advice?

The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Fenstanton conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

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

  • A significant proportion of the frustration in leasehold conveyancing in Fenstanton can be bypassed if you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the buyers representatives.
  • The majority landlords or Management Companies in Fenstanton charge for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for 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 common cause of frustration in leasehold conveyancing in Fenstanton.
  • Some Fenstanton leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet 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 lawyers.
  • If you hold a share in a the Management Company, you should ensure that you have the original share certificate. Obtaining a new share certificate can be a time consuming process and delays many a Fenstanton home move. Where a reissued share is required, do contact the company officers or managing agents (if applicable) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but you should double-check by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is below 75 years. It is therefore important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • In relation to leasehold conveyancing in Fenstanton what are the most frequent lease defects?

    There is nothing unique about leasehold conveyancing in Fenstanton. All leases are unique and drafting errors can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the premises
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You may encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Virgin Money, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.

    I acquired a 2 bed flat in Fenstanton, conveyancing was carried out 10 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Fenstanton with over 90 years remaining are worth £229,000. The average or mid-range amount of ground rent is £65 yearly. The lease runs out on 21st October 2078

    With 53 years left to run the likely cost is going to be between £31,400 and £36,200 plus legals.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Fenstanton