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

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Examples of recent questions relating to leasehold conveyancing in Great Baddow

Having had my offer accepted I require leasehold conveyancing in Great Baddow. Before I get started I would like to find out the number of years remaining on the lease.

If the lease is recorded at the land registry - and 99.9% are in Great Baddow - 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.

Looking forward to exchange soon on a leasehold property in Great Baddow. Conveyancing lawyers inform me 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 Great Baddow should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • You should have a good understanding of the insurance provisions
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Responsibility for repairing the window frames
  • What you can do 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 Great Baddow please enquire of your conveyancer in ahead of your conveyancing in Great Baddow

    • I’m about to sell my 2 bed apartment in Great Baddow.Conveyancing has not commenced but I have just had a quarterly service charge invoice – what should I do?

    Your conveyancing lawyer is likely to suggest that you should clear 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.

    Can you offer any advice when it comes to finding a Great Baddow conveyancing practice to carry out our lease extension conveyancing?

    If you are instructing a conveyancer for your lease extension (regardless if they are a Great Baddow conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Great Baddow conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

    • 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?

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

    Leasehold conveyancing in Great Baddow is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the premises
    • Insurance obligations
    • 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 will encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Norwich and Peterborough Building Society, and Aldermore all have very detailed requirements 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 grant the mortgage, forcing the buyer to pull out.

    I acquired a leasehold flat in Great Baddow, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Great Baddow with over 90 years remaining are worth £251,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease ceases on 21st October 2093

    With only 68 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 as well as legals.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Great Baddow