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

When it comes to leasehold conveyancing in Frant, you will need to instruct a conveyancing lawyer with leasehold experience. Whether your lender is to be Clydesdale , Birmingham Midshires or Bradford & Bingley make sure you choose a lawyer on their approved list. Feel free to use our search tool

Recently asked questions relating to Frant leasehold conveyancing

I only have Fifty years left on my lease in Frant. I am keen to get lease extension but my landlord is missing. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to track down the freeholder. For most situations a specialist would be helpful to conduct investigations and prepare a report which can be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Frant.

I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Frant. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Frant ?

Most houses in Frant are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Frant so you should seriously consider looking for a Frant conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer should advise you fully on all the issues.

I am employed by a reputable estate agent office in Frant where we have witnessed a number of leasehold sales derailed as a result of short leases. I have been given conflicting advice from local Frant conveyancing firms. Could you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

All being well we will complete our sale of a £275000 garden flat in Frant on Tuesday in a week. The freeholder has quoted £396 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Frant?

Frant conveyancing on leasehold apartments normally requires the purchaser’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions the majority will be willing to do so. They may invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some situations it exceeds £800. The administration charge demanded by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality one has no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.

What are the common defects that you see in leases for Frant properties?

There is nothing unique about leasehold conveyancing in Frant. Most leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are missing. The following missing provisions could result in a defective lease:

  • A provision to repair to or maintain elements of the building
  • 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

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Skipton Building Society, and Alliance & Leicester 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 defective they may refuse to provide security, obliging the buyer to pull out.

Frant Leasehold Conveyancing - Examples of Questions you should ask before Purchasing

    Best to be warned whether fixing the lift or some other major work is coming up that will be shared amongst the tenants and could well dramatically increase the the maintenance fees or result in a one off payment. Where a Frant lease has fewer than eighty years it will have adverse implications on the salability of the flat. It is worth checking with your mortgage company that they are happy with remaining years on the lease. A short lease means that you will almost definitely have to extend the lease at some point and you need to have some idea of how much this would cost. Remember, in most cases you will be be obliged to have owned the property for a couple of years in order to be eligible to carry out a lease extension. Who are the managing agents?

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Lease Extensions in Frant