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

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

Examples of recent questions relating to leasehold conveyancing in Great Dunmow

My partner and I may need to let out our Great Dunmow ground floor flat temporarily due to a new job. We used a Great Dunmow conveyancing practice in 2002 but they have since shut and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?

Even though your last Great Dunmow conveyancing solicitor is not around you can check your lease to check if it allows you to sublet the property. The accepted inference is that if the lease is silent, subletting is allowed. There may be a precondition that you must seek consent via your landlord or some other party prior to subletting. This means that you cannot sublet in the absence of prior permission. The consent should not be unreasonably withheld. If your lease prohibits you from subletting the property you should ask your landlord for their consent.

I work for a long established estate agency in Great Dunmow where we have experienced a number of flat sales jeopardised as a result of short leases. I have received conflicting advice from local Great Dunmow conveyancing solicitors. Can you clarify whether the seller 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 can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

An alternative approach is to agree the lease extension with the freeholder 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 buyer.

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

When appointing 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 advise that you make enquires with several firms including non Great Dunmow conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

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

    • Do you have any top tips for leasehold conveyancing in Great Dunmow with the intention of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Great Dunmow can be avoided where you get in touch lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
    • Many freeholders or Management Companies in Great Dunmow levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Great Dunmow.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Great Dunmow leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. Should you dont have the consents to hand do not communicate with the landlord without checking with your lawyer first.
  • A minority of Great Dunmow leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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 you are supposed to have a share in the Management Company, you should make sure that you are holding the original share certificate. Arranging a re-issued share certificate can be a time consuming process and slows down many a Great Dunmow conveyancing transaction. If a new share is necessary, do contact the company officers or managing agents (where applicable) for this as soon as possible.

    • What makes a Great Dunmow lease defective?

    There is nothing unique about leasehold conveyancing in Great Dunmow. 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:

    • Repairing obligations to or maintain elements of the building
    • A duty to insure the building
    • 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 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. Yorkshire Building Society, The Royal Bank of Scotland, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    Great Dunmow Leasehold Conveyancing - Examples of Questions you should ask before buying

      How much is the ground rent and service charge? Is there a share of the freehold? What is the the remaining lease term?

    Other Topics

    Lease Extensions in Great Dunmow