Guaranteed fixed fees for Leasehold Conveyancing in Kimbolton

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Leasehold conveyancing in Kimbolton is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Kimbolton and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Recently asked questions relating to Kimbolton leasehold conveyancing

I am on look out for some leasehold conveyancing in Kimbolton. Before diving in I want to be sure as to the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Kimbolton - then the leasehold title will always include the short particulars 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 am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Kimbolton. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Kimbolton ?

The majority of houses in Kimbolton are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Kimbolton in which case you should be shopping around for a Kimbolton conveyancing practitioner and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will appraise you on the various issues.

I own a leasehold flat in Kimbolton. Conveyancing and Godiva Mortgages Ltd mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Kimbolton who previously acted has long since retired.Do I pay?

First make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Kimbolton conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am employed by a busy estate agency in Kimbolton where we have witnessed a few leasehold sales put at risk due to short leases. I have been given contradictory information from local Kimbolton conveyancing firms. Can you clarify whether the seller of a flat can commence the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Do you have any advice for leasehold conveyancing in Kimbolton from the perspective of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Kimbolton can be avoided where you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information which will be required by the buyers conveyancers.
  • The majority landlords or managing agents in Kimbolton 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 pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Kimbolton.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Kimbolton state that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord approving such alterations. Should you fail to have the consents to hand do not communicate with the landlord without checking with your solicitor before hand.
  • If you are supposed to have a share in the Management Company, you should ensure that you have the original share certificate. Arranging a new share certificate is often a time consuming formality and delays many a Kimbolton conveyancing deal. If a duplicate share certificate is required, you should approach the company officers or managing agents (if relevant) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check via your solicitors. A buyer’s lawyer will be unlikely to recommend their client to where the remaining number of years is under 75 years. It is therefore essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Kimbolton Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing

      If a Kimbolton lease has less than 80 years it will have adverse implications on the value of the flat. Check with your mortgage company that they are content with residual term of the lease. A short lease means that you will probably need a lease extension sooner rather than later and you need to have some idea of how much this will be. For most Kimboltonlease extensions you will need to own the residence for 24 months in order to be legally able to extend the lease. Is anyone aware of any major works anticipated that will add a premium to the maintenance charges? What is the name of the managing agents?

    Other Topics

    Lease Extensions in Kimbolton