Experts for Leasehold Conveyancing in Holbeach

Get a Quote

Whether you are buying or selling leasehold flat in Holbeach, our panel of leasehold conveyancing experts will help you move with as little stress as possible. Find a Holbeach conveyancing lawyer with our search tool

Holbeach leasehold conveyancing: Q and A’s

Looking forward to complete next month on a ground floor flat in Holbeach. Conveyancing solicitors have said that they are sending me a report within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Holbeach should include some of the following:

  • You should be sent a copy of the lease
  • Are pets allowed in the flat?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • 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
  • Responsibility for repairing the window frames
  • What you can do if a neighbour breach a clause of their lease? For details of the information to be included in your report on your leasehold property in Holbeach please enquire of your lawyer in advance of your conveyancing in Holbeach

    • I've recently bought a leasehold flat in Holbeach. Am I liable to pay service charges for periods before completion of my purchase?

    Where the service charge has already been demanded from the previous owner 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 finding a Holbeach conveyancing practice to deal with our lease extension?

    When appointing a property lawyer for your lease extension (regardless if they are a Holbeach conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Holbeach conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

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

    • Can you provide any top tips for leasehold conveyancing in Holbeach with the aim of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Holbeach can be bypassed 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 needed by the purchasers’ representatives.
    • Many freeholders or Management Companies in Holbeach levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for 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 common reason for frustration in leasehold conveyancing in Holbeach.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Holbeach state that internal structural changes or laying down wooden flooring require a licence from the Landlord consenting to such works. Where you fail to have the paperwork to hand you should not communicate with the landlord without contacting your conveyancer in advance.
  • A minority of Holbeach leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual 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 buyers or their lawyers.
  • You believe that you know the number of years left on your lease but it would be advisable double-check via your lawyers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 80 years. It is therefore important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • In relation to leasehold conveyancing in Holbeach what are the most frequent lease defects?

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

    • Repairing obligations to or maintain parts of the building
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Coventry Building Society, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.

    Leasehold Conveyancing in Holbeach - A selection of Queries Prior to Purchasing

      Plenty Holbeach leasehold apartments will be liable to pay a service bill for the upkeep of the block levied on behalf of the landlord. Where you purchase the flat you will have to meet this charge, normally periodically during the year. This can be anything from two or three hundred pounds to thousands of pounds for buildings with lifts and large common areas. There will also be a rentcharge to be met yearly, ordinarily this is not a significant figure, say about £50-£100 but you need to enquire it because occasionally it could be many hundreds of pounds. It would be wise to find out as much as possible regarding the managing agents as they will either make living at the property much easier or problematic. As the owner of a leasehold property you will be at the mercy of the managing agents both financially and when it comes to practical matters such as the cleanliness of the common parts. You should not be afraid to ask other tenants whether they are happy with them. In conclusion, find out the dates that the maintenance charges are due to the managing agents and specifically how they are spending the funds. How long is the Lease?

    Other Topics

    Lease Extensions in Holbeach