Guaranteed fixed fees for Leasehold Conveyancing in Great Dunmow

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Frequently asked questions relating to Great Dunmow leasehold conveyancing

There are only 68 years remaining on my lease in Great Dunmow. I now want to get lease extension but my landlord is can not be found. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you have used your best endeavours to find the freeholder. For most situations a specialist may be helpful to carry out a search and to produce a report which can be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Great Dunmow.

My wife and I purchased a leasehold flat in Great Dunmow. Conveyancing and HSBC Bank mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Great Dunmow who previously acted has long since retired.Any advice?

First make enquiries of HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Great Dunmow conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of flats in Great Dunmow both have in the region of 50 years remaining on the leases. Will this present a problem?

There are plenty of short leases in Great Dunmow. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the saleability of the lease deteriorate and results in it becoming more expensive to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this area

Can you offer any advice when it comes to finding a Great Dunmow conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Great Dunmow conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Great Dunmow 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 useful:

  • If the firm is not ALEP accredited then why not?
  • Can they put you in touch with client in Great Dunmow who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in Great Dunmow with the intention of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Great Dunmow can be reduced if you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information needed by the purchasers’ solicitors.
    • The majority freeholders or Management Companies in Great Dunmow charge for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Great Dunmow.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a property where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle 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 clearly preferable to present the dispute as over rather than ongoing.
  • If you hold a share in a the Management Company, you should ensure that you are holding the original share certificate. Obtaining a replacement share certificate can be a lengthy process and delays many a Great Dunmow conveyancing deal. Where a new share certificate is required, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is under 75 years. It is therefore important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • I bought a studio flat in Great Dunmow, conveyancing having been completed in 2009. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Great Dunmow with a long lease are worth £183,000. The ground rent is £55 levied per year. The lease ends on 21st October 2104

    With just 80 years left to run the likely cost is going to be between £10,500 and £12,000 plus legals.

    The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Great Dunmow