Estate agents have just been given the go-ahead to market my ground floor flat in Laindon.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should 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. This will smooth the conveyancing process.

I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Laindon. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

The majority of houses in Laindon are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Laindon so you should seriously consider shopping around for a Laindon conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to carry out changes to the property. It may be necessary 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.

I am attracted to a couple of maisonettes in Laindon both have in the region of forty five years remaining on the lease term. Will this present a problem?

There are plenty of short leases in Laindon. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the value of the lease reduces and it becomes more expensive to extend the lease. For this reason it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area

Can you offer any advice when it comes to appointing a Laindon conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Laindon conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Laindon conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

• How many lease extensions have they completed in Laindon in the last year?

When it comes to leasehold conveyancing in Laindon what are the most common lease defects?

Leasehold conveyancing in Laindon is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the building
• A duty to insure the building
• 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 could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Norwich and Peterborough Building Society, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.

Leasehold Conveyancing in Laindon - Examples of Questions you should consider before buying

Are any of leasehold owners in arrears of their service charge payments? If a Laindon lease has less than 80 years it will have adverse implications on the marketability of the apartment. Check with your bank that they are willing to to proceed given the lease term. A short lease means that you will probably have to extend the lease sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you will be required to have owned the residence for 24 months in order to be legally able to extend the lease. On the whole the cost for major works are not included within maintenance charges, albeit that some managing agents in Laindon ask leasehold owners to contribute towards a reserve fund and this is used to offset against larger repairs or maintenance.

Other Topics

Lease Extensions in Laindon