Experts for Leasehold Conveyancing in Kenilworth

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While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Kenilworth, 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 Kenilworth leasehold conveyancing

Due to exchange soon on a studio apartment in Kenilworth. Conveyancing solicitors assured me that they will have a report out to me next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Kenilworth should include some of the following:

  • You should be sent a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The physical extent of the demise. This will be the flat itself but may include a loft or cellar if applicable.
  • Defining your legal entitlements in respect of common areas in the building.E.G., does the lease include a right of way over a path or staircase?
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Kenilworth please enquire of your conveyancer in ahead of your conveyancing in Kenilworth

    • Estate agents have just been given the go-ahead to market my 2 bed flat in Kenilworth.Conveyancing is yet to be initiated but I have just had a half-yearly service charge demand – should I leave it to the buyer to sort out?

    It best that you clear the invoice 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 seems to be perfect, at a reasonable price which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Kenilworth. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

    Most houses in Kenilworth are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Kenilworth in which case you should be looking for a Kenilworth conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will report to you on the legal implications.

    I own a leasehold house in Kenilworth. Conveyancing and Bank of Ireland mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Kenilworth who acted for me is not around.Do I pay?

    First contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Kenilworth conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Can you provide any advice for leasehold conveyancing in Kenilworth with the intention of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Kenilworth can be reduced if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ representatives.
    • The majority landlords or managing agents in Kenilworth levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Kenilworth.
  • A minority of Kenilworth leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is 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.
  • If you hold a share in a the freehold, you should ensure that you have the original share document. Organising a re-issued share certificate is often a lengthy formality and delays many a Kenilworth home move. If a new share is required, you should approach the company officers or managing agents (where relevant) for this as soon as possible.
  • You believe that you know the number of years left on your lease but you should double-check via your solicitors. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is less than 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Kenilworth Leasehold Conveyancing - Sample of Queries Prior to Purchasing

      It is important to be aware whether window replacement or some other significant cost is due shortly to be shared by the leaseholders and may well materially increase the the service fees or require a specific invoice. How many of the leaseholders are in arrears for their service charge payments? This question is helpful as a) areas can result in problems in the building as the communal areas may start to deteriorate where maintenance remain unpaid b) if the leaseholders have an issue with the managing agents you will need to have full disclosure

    Other Topics

    Lease Extensions in Kenilworth