Having had my offer accepted I require leasehold conveyancing in Ingatestone. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is registered - and almost all are in Ingatestone - 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.

I have recently realised that I have 62 years remaining on my flat in Ingatestone. I now want to extend my lease but my freeholder is absent. 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 for permission 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. You will be obliged to prove that you have made all reasonable attempts to track down the landlord. In some cases a specialist may be useful to conduct investigations and prepare a report which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Ingatestone.

I have just started marketing my 2 bed flat in Ingatestone.Conveyancing has not commenced but I have just received a quarterly service charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is discharge 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Ingatestone. Conveyancing advisers have not yet been instructed. Will they explain the issues?

The majority of houses in Ingatestone are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Ingatestone in which case you should be looking for a Ingatestone conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct alterations. You may also be required to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your conveyancer will advise you fully on all the issues.

What makes a Ingatestone lease problematic?

There is nothing unique about leasehold conveyancing in Ingatestone. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Skipton Building Society, and TSB 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, obliging the purchaser to withdraw.

Ingatestone Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing

What is the maintenance charge and ground rent on the property? Many Ingatestone leasehold apartments will have a service bill for maintenance of the block invoiced on behalf of the freeholder. Should you buy the flat you will have to meet this contribution, usually in instalments accross the year. This could differ from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. In all probability there will be a rentcharge for you to pay annual, this is usually not a exorbitant amount, say around £25-£75 but you should to enquire as occasionally it can be prohibitively expensive. The prefered form of lease arrangement is where the freehold title is in the ownership of the leaseholders. In this situation the lessees enjoy control and although a managing agent is often employed if the building is larger than a house conversion, the managing agent employed by the leaseholders.

Other Topics

Lease Extensions in Ingatestone