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

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Recently asked questions relating to Fenstanton leasehold conveyancing

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

If the lease is registered - and most 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.

Expecting to complete next month on a garden flat in Fenstanton. Conveyancing lawyers have said that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

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

  • You should be sent a copy of the lease
  • The total extent of the property. This will be the apartment itself but could also incorporate a loft or cellar if appropriate.
  • Whether your lease has a provision for a sinking fund?
  • You should have a good understanding of the insurance provisions
  • Changes to the flat (alterations and additions)
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • What options are open to you if a neighbour is in violation of a provision in their lease? For details of the information to be included in your report on your leasehold property in Fenstanton please enquire of your conveyancer in ahead of your conveyancing in Fenstanton

    • I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Fenstanton. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Fenstanton ?

    The majority of houses in Fenstanton are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Fenstanton so you should seriously consider shopping around for a Fenstanton conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your solicitor should appraise you on the various issues.

    Do you have any advice for leasehold conveyancing in Fenstanton with the intention of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Fenstanton can be reduced if you get in touch lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the purchasers’ representatives.
    • If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example installed wooden flooring? Fenstanton leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord approving such changes. Should you fail to have the paperwork to hand you should not contact the landlord without checking with your solicitor first.
  • Some Fenstanton leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual 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 service charge figures 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 hold the original share certificate. Obtaining a new share certificate can be a time consuming process and delays many a Fenstanton home move. Where a new share is necessary, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is under 75 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • When it comes to leasehold conveyancing in Fenstanton what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in Fenstanton. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the building
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Skipton Building Society, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to pull out.

    Fenstanton Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to buying

      Is there a share of the freehold? Who manages the block? What is the service charge and ground rent on the apartment?

    Other Topics

    Lease Extensions in Fenstanton