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Examples of recent questions relating to leasehold conveyancing in Laindon

I am in need of some leasehold conveyancing in Laindon. Before I get started I require certainty as to the number of years remaining on the lease.

If the lease is registered - and most are in Laindon - 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.

My husband and I may need to let out our Laindon basement flat temporarily due to taking a sabbatical. We used a Laindon conveyancing practice in 2004 but they have closed and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?

Some leases for properties in Laindon do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I have just started marketing my basement apartment in Laindon.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge demand – Do I pay up?

It best that you discharge 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 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 advice for leasehold conveyancing in Laindon from the perspective of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Laindon can be avoided if you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
  • Many freeholders or Management Companies in Laindon charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Laindon.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Laindon leases often stipulate that internal structural changes or addition of wooden flooring require a licence from the Landlord acquiescing to such alterations. If you dont have the approvals to hand you should not communicate with the landlord without contacting your lawyer in the first instance.
  • A minority of Laindon leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is 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 purchasers or their solicitors.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to present the dispute as historic rather than unsettled.

    • What makes a Laindon lease problematic?

    There is nothing unique about leasehold conveyancing in Laindon. Most leases is drafted differently and drafting errors can result in certain sections are missing. 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 premises
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Chelsea Building Society, and Platform Home Loans Ltd all have express 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 grant the mortgage, obliging the buyer to withdraw.

    I invested in buying a 2 bed flat in Laindon, conveyancing having been completed 2009. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Laindon with an extended lease are worth £193,000. The ground rent is £65 charged once a year. The lease ceases on 21st October 2083

    With 58 years remaining on your lease the likely cost is going to span between £25,700 and £29,600 as well as professional fees.

    The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Laindon