Fixed-fee leasehold conveyancing in Lechlade:

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Examples of recent questions relating to leasehold conveyancing in Lechlade

Having had my offer accepted I require leasehold conveyancing in Lechlade. Before diving in I would like to find out the number of years remaining on the lease.

If the lease is registered - and most are in Lechlade - 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 own a leasehold flat in Lechlade. Conveyancing and TSB mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Lechlade who previously acted has long since retired.Do I pay?

The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Lechlade conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a two maisonettes in Lechlade which have about 50 years unexpired on the lease term. Will this present a problem?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field

What advice can you give us when it comes to appointing a Lechlade conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Lechlade conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Lechlade conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

  • How familiar is the firm with lease extension legislation?
  • How many lease extensions has the firm carried out in Lechlade in the last 12 months?

  • Do you have any advice for leasehold conveyancing in Lechlade with the intention of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Lechlade can be bypassed if you instruct lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ lawyers.
    • If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Lechlade state that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such works. If you dont have the consents in place do not contact the landlord without contacting your solicitor in the first instance.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a flat where a dispute is unresolved. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic as opposed to ongoing.
  • If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Obtaining a new share certificate is often a time consuming process and frustrates many a Lechlade home move. Where a reissued share certificate is needed, do contact the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but you should double-check via your solicitors. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. In the circumstances it is important at an as soon as possible that you consider 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.

  • Lechlade Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying

      Best to be warned if redecorating or some other major work is due shortly that will be shared by the leaseholders and may well dramatically impact the level of the service fees or result in a one off payment. How much is the ground rent and service charge? Most Lechlade leasehold apartments will incur a service charge for the upkeep of the building levied on behalf of the landlord. Should you buy the property you will have to pay this amount, normally periodically during the year. This can differ from a few hundred pounds to thousands of pounds for buildings with lifts and large common areas. There will also be a rentcharge for you to pay yearly, normally this is not a exorbitant amount, say around £50-£100 but you should to enquire as occasionally it can be many hundreds of pounds.

    Other Topics

    Lease Extensions in Lechlade