Leasehold Conveyancing in Langland - Get a Quote from the leasehold experts approved by your lender

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

Langland leasehold conveyancing: Q and A’s

I have recently realised that I have Seventy years remaining on my lease in Langland. I am keen to get lease extension but my landlord is missing. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the freeholder. On the whole an enquiry agent should be helpful to carry out a search and prepare an expert document which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Langland.

Due to complete next month on a basement flat in Langland. Conveyancing lawyers inform me that they will have a report out to me next week. What should I be looking out for?

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

  • The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • The physical extent of the demise. This will be the flat itself but may include a loft or cellar if appropriate.
  • Does the lease prevent you from subletting the property, or working from home
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • 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
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Langland please enquire of your lawyer in ahead of your conveyancing in Langland

    • I've found a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Langland. Conveyancing advisers have are about to be instructed. Will they explain the issues?

    The majority of houses in Langland are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Langland so you should seriously consider shopping around for a Langland conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer will appraise you on the various issues.

    I am attracted to a couple of apartments in Langland which have about fifty years unexpired on the lease term. Will this present a problem?

    There is no doubt about it. A leasehold apartment in Langland is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. For most buyers and lenders, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Langland conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

    Can you provide any advice for leasehold conveyancing in Langland from the perspective of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Langland can be avoided if you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation needed by the purchasers’ lawyers.
    • Many freeholders or Management Companies in Langland levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Langland.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Langland state that internal structural alterations or addition of wooden flooring require a licence from the Landlord approving such works. Where you fail to have the consents in place you should not contact the landlord without contacting your conveyancer in the first instance.
  • A minority of Langland leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any 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 double-check by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I am the registered owner of a studio flat in Langland, conveyancing formalities finalised 2008. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Langland with a long lease are worth £201,000. The ground rent is £50 invoiced every year. The lease finishes on 21st October 2079

    With only 54 years left to run we estimate the premium for your lease extension to range between £27,600 and £31,800 as well as costs.

    The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Langland