Fixed-fee leasehold conveyancing in Kimbolton:

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

Top Five Questions relating to Kimbolton leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Kimbolton. Before diving in I would like to find out the unexpired term of the lease.

If the lease is registered - and almost all 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 unexpired 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 extended by the magistrate. However, you will be required to prove that you have done all that could be expected to track down the lessor. For most situations a specialist would be helpful to try and locate and prepare an expert document to be used as evidence that the landlord can not be located. It is wise to seek advice from a solicitor both on devolving into the landlord’s disappearance and the application to the County Court overseeing Kimbolton.

I have just appointed agents to market my garden flat in Kimbolton.Conveyancing has not commenced but I have just received a half-yearly maintenance charge demand – Do I pay up?

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 management companies 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.

I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Kimbolton. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

The majority of houses in Kimbolton are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Kimbolton in which case you should be looking for a Kimbolton conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to conduct alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer will advise you fully on all the issues.

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

  • A significant proportion of the delay in leasehold conveyancing in Kimbolton can be bypassed if you get in touch lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
  • Many freeholders or Management Companies in Kimbolton charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information 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 cause of delay in leasehold conveyancing in Kimbolton.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Kimbolton leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. Where you dont have the consents in place you should not communicate with the landlord without checking with your lawyer in the first instance.
  • A minority of Kimbolton 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 put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your solicitors. A buyer’s conveyancer will not be happy to advise their client to where the remaining number of years is below 75 years. It is therefore important at an as soon as possible 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.

    • Leasehold Conveyancing in Kimbolton - A selection of Queries before buying

      It would be wise to find out as much as you can regarding the managing agents as they can either make living at the property much easier or much more difficult. As the proprietor of a leasehold property you will be at the mercy of the managing agents both financially and when it comes to day to day issues like the upkeep of the communal areas. You should not be shy to ask other tenants if they are happy with their service. In conclusion, find out the dates that the service fees are due to the managing agents and specifically how they are spending the funds. Please inform me if there are any major works on the horizon that will likely increase the service fees? Are any of leasehold owners in dispute over their service charge liability?

    Other Topics

    Lease Extensions in Kimbolton