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

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

Common questions relating to Kendal leasehold conveyancing

I want to let out my leasehold flat in Kendal. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Even though your previous Kendal conveyancing lawyer is not around you can check your lease to see if it allows you to sublet the apartment. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you need to seek consent from your landlord or some other party prior to subletting. This means you not allowed to sublet in the absence of first obtaining consent. Such consent is not allowed to be unreasonably withheld. If the lease prohibits you from subletting the property you should ask your landlord for their consent.

I've found a house that seems to be perfect, at a great figure which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Kendal. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Kendal ?

The majority of houses in Kendal are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Kendal so you should seriously consider shopping around for a Kendal conveyancing practitioner and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer will report to you on the legal implications.

I own a leasehold house in Kendal. Conveyancing and Santander mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Kendal who previously acted has long since retired.What should I do?

First contact HMLR to be sure that this person is indeed the new freeholder. There is no need to instruct a Kendal conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Can you provide any top tips for leasehold conveyancing in Kendal with the intention of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Kendal can be reduced if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ representatives.
  • Many landlords or Management Companies in Kendal levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Kendal.
  • A minority of Kendal leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share document. Obtaining a replacement share certificate is often a lengthy process and slows down many a Kendal conveyancing transaction. Where a duplicate share certificate is required, you should approach the company officers or managing agents (if applicable) for this as soon as possible.
  • You believe that you know the number of years left on your lease but you should verify this via your solicitors. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. In the circumstances it is important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

  • What makes a Kendal lease problematic?

    Leasehold conveyancing in Kendal is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the premises
    • 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. Halifax, Chelsea Building Society, and Bank of Ireland all have express 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, forcing the purchaser to withdraw.

    I invested in buying a leasehold flat in Kendal, conveyancing formalities finalised 5 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Kendal with over 90 years remaining are worth £264,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2083

    You have 61 years remaining on your lease we estimate the price of your lease extension to span between £21,900 and £25,200 plus legals.

    The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Kendal