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Questions and Answers: Kimbolton leasehold conveyancing

I am on look out for some leasehold conveyancing in Kimbolton. Before I get started I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and 99.9% are in Kimbolton - 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 72 years left on my flat in Kimbolton. I need to extend my lease but my freeholder is can not be found. What options are available to me?

If you qualify, 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 enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you have done all that could be expected to track down the freeholder. On the whole an enquiry agent would be helpful to carry out a search and prepare a report which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the application to the County Court covering Kimbolton.

Expecting to complete next month on a leasehold property in Kimbolton. Conveyancing solicitors assured me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

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

  • Setting out your legal entitlements in relation to the communal areas in the block.E.G., does the lease contain a right of way over a path or hallways?
  • Does the lease prohibit wood flooring?
  • Are you allowed to have a pet in the flat?
  • Does the lease prevent you from subletting the property, or having a home office for business
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • Responsibility for repairing the window frames For a comprehensive list of information to be included in your report on your leasehold property in Kimbolton please enquire of your conveyancer in advance of your conveyancing in Kimbolton

    • I have just started marketing my basement apartment in Kimbolton.Conveyancing has not commenced but I have just had a yearly service charge demand – what should I do?

    The sensible thing to do is clear 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 managing agents will not acknowledge the buyer unless 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.

    Can you provide any top tips for leasehold conveyancing in Kimbolton from the point of view of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Kimbolton can be reduced where you instruct lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the buyers solicitors.
    • If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Kimbolton state that internal structural changes or addition of wooden flooring require a licence issued by the Landlord approving such changes. Should you fail to have the approvals to hand do not contact the landlord without checking with your conveyancer first.
  • Some Kimbolton leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet 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 purchasers or their solicitors.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 particulars of the dispute to the buyers, but it is better to reveal the dispute as over rather than ongoing.
  • If you hold a share in a the Management Company, you should make sure that you have the original share document. Arranging a duplicate share certificate is often a time consuming formality and delays many a Kimbolton conveyancing transaction. Where a reissued share is necessary, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.

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

      Most Kimbolton leasehold flats will incur a service bill for the upkeep of the building set by the landlord. Where you acquire the flat you will have to meet this charge, usually periodically throughout the year. This could differ from several hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all likelihood there will be a ground rent for you to pay yearly, this is usually not a exorbitant figure, say about £25-£75 but you should to enquire as on occasion it can be many hundreds of pounds. You should want to find out as much as possible about the managing agents as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to every day matters like the cleanliness of the communal areas. Don't be shy to ask other people what they think of them. On a final note, be sure you discover the dates that the service fees are due to the managing agents and specifically what you get for your money. You should be aware if it is no more than 80 years it will have adverse implications on the marketability of the flat. Check with your mortgage company that they are content with remaining years on the lease. A short lease means that you will most likely need a lease extension at some point and it is worth finding out what this will be. For most Kimboltonlease extensions you will need to own the residence for two years in order to be eligible to extend the lease.

    Other Topics

    Lease Extensions in Kimbolton