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Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Holbrook, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Holbrook leasehold conveyancing Example Support Desk Enquiries

Having checked my lease I have discovered that there are only Sixty One years unexpired on my flat in Holbrook. I am keen to get lease extension but my freeholder is missing. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to track down the freeholder. On the whole a specialist may be helpful to carry out a search and prepare a report to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court covering Holbrook.

Looking forward to sign contracts shortly on a basement flat in Holbrook. Conveyancing lawyers inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The total extent of the demise. This will be the property itself but could also incorporate a loft or basement if applicable.
  • Defining your legal entitlements in relation to the communal areas in the building.E.G., does the lease contain a right of way over a path or staircase?
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Repair and maintenance of the flat
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide. For a comprehensive list of information to be contained in your report on your leasehold property in Holbrook please enquire of your lawyer in ahead of your conveyancing in Holbrook

    • I've found a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Holbrook. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Holbrook ?

    The majority of houses in Holbrook are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Holbrook so you should seriously consider looking for a Holbrook conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will appraise you on the various issues.

    Can you offer any advice when it comes to choosing a Holbrook conveyancing firm to carry out our lease extension conveyancing?

    When appointing a conveyancer for your lease extension (regardless if they are a Holbrook conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Holbrook 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:

    • If they are not ALEP accredited then what is the reason?
  • What are the charges for lease extension work?

    • Can you provide any advice for leasehold conveyancing in Holbrook from the perspective of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Holbrook can be avoided where you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers.
    • The majority landlords or Management Companies in Holbrook charge for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Holbrook.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Holbrook state that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord approving such alterations. If you fail to have the approvals to hand you should not communicate with the landlord without contacting your lawyer in advance.
  • If you have had any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to ongoing.
  • If you hold a share in a the Management Company, you should make sure that you have the original share document. Organising a replacement share certificate can be a time consuming process and frustrates many a Holbrook home move. If a duplicate share is required, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later.

    • I invested in buying a split level flat in Holbrook, conveyancing formalities finalised 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Holbrook with an extended lease are worth £232,000. The average or mid-range amount of ground rent is £50 per annum. The lease ceases on 21st October 2078

    With only 53 years remaining on your lease we estimate the price of your lease extension to span between £33,300 and £38,400 as well as costs.

    The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Holbrook