Fixed-fee leasehold conveyancing in Gedling:

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Examples of recent questions relating to leasehold conveyancing in Gedling

I have recently realised that I have Sixty One years remaining on my lease in Gedling. I now wish to extend my lease but my landlord is absent. 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 submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to prove that you have used your best endeavours to track down the freeholder. For most situations an enquiry agent should be helpful to conduct investigations and to produce an expert document which can be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the application to the County Court covering Gedling.

I have just appointed agents to market my garden flat in Gedling.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge demand – should I leave it to the buyer to sort out?

It best that you 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 until 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. This will smooth the conveyancing process.

What are your top tips when it comes to appointing a Gedling conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Gedling conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Gedling conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

  • If they are not ALEP accredited then what is the reason?
  • What volume of lease extensions has the firm carried out in Gedling in the last twenty four months?

    • Can you provide any top tips for leasehold conveyancing in Gedling from the perspective of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Gedling can be reduced where you get in touch lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the purchasers’ lawyers.
    • Many landlords or managing agents in Gedling levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Gedling.
  • Some Gedling leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are 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 solicitors.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. 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 purchasers, but it is better to reveal the dispute as over rather than ongoing.
  • You may think that you are aware of the number of years left on your lease but you should double-check via your conveyancers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property 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 home on the market for sale.

    • What are the common problems that you see in leases for Gedling properties?

    Leasehold conveyancing in Gedling is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections 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 parts of the property
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, The Royal Bank of Scotland, and Alliance & Leicester 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 defective they may refuse to provide security, obliging the buyer to pull out.

    Leasehold Conveyancing in Gedling - A selection of Queries before Purchasing

      Does the lease include onerous restrictions? Is the freehold owned jointly by the tenants? Plenty Gedling leasehold properties will incur a service charge for the upkeep of the block set by the freeholder. Where you buy the property you will have to meet this contribution, usually in instalments during the year. This can differ from several hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all probability there will be a ground rent to be met yearly, this is usually not a large amount, say around £25-£75 but you should to check it because occasionally it could be surprisingly expensive.

    Other Topics

    Lease Extensions in Gedling