Fixed-fee leasehold conveyancing in Great Baddow:

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

Recently asked questions relating to Great Baddow leasehold conveyancing

I am in need of some leasehold conveyancing in Great Baddow. Before diving in I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and most are in Great Baddow - then the leasehold title will always include the short particulars 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.

Estate agents have just been given the go-ahead to market my garden flat in Great Baddow.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

Last month I purchased a leasehold property in Great Baddow. Do I have any liability for service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What are your top tips when it comes to choosing a Great Baddow conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Great Baddow conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Great Baddow conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

  • How familiar is the practice with lease extension legislation?
  • Can they put you in touch with client in Great Baddow who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Great Baddow with the aim of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Great Baddow can be bypassed where you appoint lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ representatives.
    • If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example installed wooden flooring? Great Baddow leases often stipulate that internal structural alterations or installing wooden flooring require a licence issued by the Landlord consenting to such changes. If you fail to have the paperwork in place you should not communicate with the landlord without contacting your conveyancer first.
  • If you have had conflict with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a flat where there is a current dispute. You may need to swallow your pride and 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 prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to present the dispute as over rather than unsettled.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share document. Organising a duplicate share certificate is often a time consuming process and delays many a Great Baddow home move. Where a duplicate share is needed, do contact the company officers or managing agents (if relevant) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but you should double-check by asking your solicitors. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is below 80 years. In the circumstances it is important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I bought a 1 bedroom flat in Great Baddow, conveyancing formalities finalised 7 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Great Baddow with an extended lease are worth £231,000. The ground rent is £50 charged once a year. The lease comes to an end on 21st October 2104

    With 79 years unexpired we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as legals.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Great Baddow