Guaranteed fixed fees for Leasehold Conveyancing in Leigh On Sea

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Leasehold conveyancing in Leigh On Sea is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Leigh On Sea and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Leigh On Sea leasehold conveyancing Example Support Desk Enquiries

I wish to let out my leasehold apartment in Leigh On Sea. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Some leases for properties in Leigh On Sea do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see 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 am looking at a couple of flats in Leigh On Sea which have about fifty years left on the leases. Do I need to be concerned?

A lease is a right to use the premises for a prescribed time frame. As a lease shortens the value of the lease deteriorate and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena

What are your top tips when it comes to appointing a Leigh On Sea conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Leigh On Sea conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Leigh On Sea conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

  • How familiar is the practice with lease extension legislation?
  • What are the costs for lease extension conveyancing?

    • Can you provide any advice for leasehold conveyancing in Leigh On Sea from the perspective of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Leigh On Sea can be avoided if you instruct lawyers as soon as you market your property and ask them to collate the leasehold information needed by the buyers lawyers.
    • If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you installed wooden flooring? Leigh On Sea leases often stipulate that internal structural alterations or installing wooden flooring require a licence issued by the Landlord consenting to such alterations. Where you dont have the paperwork in place do not contact the landlord without contacting your lawyer in the first instance.
  • A minority of Leigh On Sea leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you hold a share in a the freehold, you should make sure that you hold the original share certificate. Obtaining a duplicate share certificate is often a time consuming process and frustrates many a Leigh On Sea conveyancing transaction. Where a reissued share is needed, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 80 years. It is therefore essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • When it comes to leasehold conveyancing in Leigh On Sea what are the most frequent lease problems?

    There is nothing unique about leasehold conveyancing in Leigh On Sea. All leases are unique and legal mistakes in the legal wording can result in certain sections are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the property
    • 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

    A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Norwich and Peterborough Building Society, and Britannia all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    I acquired a 1 bedroom flat in Leigh On Sea, conveyancing formalities finalised 10 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Leigh On Sea with over 90 years remaining are worth £263,000. The average or mid-range amount of ground rent is £55 per annum. The lease ceases on 21st October 2077

    With only 53 years left to run we estimate the price of your lease extension to range between £35,200 and £40,600 plus legals.

    The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Leigh On Sea