Experts for Leasehold Conveyancing in Kingstanding

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When it comes to leasehold conveyancing in Kingstanding, you will need to instruct a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Santander, Yorkshire Building Society or NatWest make sure you choose a lawyer on their approved list. Feel free to use our search tool

Questions and Answers: Kingstanding leasehold conveyancing

I want to sublet my leasehold apartment in Kingstanding. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

The lease governs the relationship between the freeholder and you the flat owner; specifically, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Kingstanding do not contain an absolute prevention of subletting – such a provision would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

Estate agents have just been given the go-ahead to market my garden apartment in Kingstanding.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly service charge invoice – Do I pay up?

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 managing agents 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 am tempted by the attractive purchase price for a couple of maisonettes in Kingstanding both have about fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Kingstanding. The lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena

Do you have any advice for leasehold conveyancing in Kingstanding with the purpose of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Kingstanding can be reduced if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the buyers representatives.
  • Many landlords or Management Companies in Kingstanding 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 pack 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 reason for delay in leasehold conveyancing in Kingstanding.
  • If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Kingstanding leases often stipulate that internal structural alterations or addition of wooden flooring require a licence from the Landlord acquiescing to such alterations. Where you dont have the approvals to hand do not communicate with the landlord without contacting your solicitor before hand.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share document. Organising a re-issued share certificate is often a lengthy formality and slows down many a Kingstanding home move. Where a new share is necessary, do contact the company officers or managing agents (where relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining 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 remaining number of years is less than 80 years. In the circumstances it is important at an as soon as possible that you identify 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.

    • In relation to leasehold conveyancing in Kingstanding what are the most frequent lease defects?

    There is nothing unique about leasehold conveyancing in Kingstanding. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. 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 building
    • 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

    You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, The Royal Bank of Scotland, and Britannia all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the purchaser to pull out.

    Leasehold Conveyancing in Kingstanding - Examples of Questions you should consider before Purchasing

      Who manages the block? What restrictions exist in the Kingstanding Lease? You should want to discover as much as possible regarding the managing agents as they will either make your life much simpler or problematic. As the owner of a leasehold property you are often at the mercy of the managing agents both financially and when it comes to practical issues such as the tidiness of the communal areas. You should not be afraid to ask prospective neighbours what they think of their service. In conclusion, find out the dates that you are obliged pay the maintenance charge to the appropriate party and specifically what you get for your money.

    Other Topics

    Lease Extensions in Kingstanding