Fixed-fee leasehold conveyancing in Leighton Buzzard:

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Leighton Buzzard leasehold conveyancing: Q and A’s

I am in need of some leasehold conveyancing in Leighton Buzzard. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Leighton Buzzard - 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've found a house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Leighton Buzzard. Conveyancing advisers have are about to be appointed. Will they explain the issues?

Most houses in Leighton Buzzard are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Leighton Buzzard so you should seriously consider looking for a Leighton Buzzard conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will report to you on the legal implications.

I own a leasehold house in Leighton Buzzard. Conveyancing and Aldermore mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Leighton Buzzard who acted for me is not around.Do I pay?

First contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Leighton Buzzard conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Can you provide any advice for leasehold conveyancing in Leighton Buzzard from the point of view of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Leighton Buzzard can be avoided where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the buyers representatives.
  • Many landlords or Management Companies in Leighton Buzzard charge for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Leighton Buzzard.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Leighton Buzzard leases often stipulate that internal structural alterations or addition of wooden flooring require a licence from the Landlord approving such changes. If you dont have the consents to hand do not contact the landlord without checking with your lawyer first.
  • A minority of Leighton Buzzard leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The 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 buyers or their lawyers.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share document. Organising a replacement share certificate can be a time consuming process and frustrates many a Leighton Buzzard home move. If a reissued share certificate is needed, you should approach the company director and secretary or managing agents (if applicable) for this sooner rather than later.

    • We expect to complete the disposal of our £500000 flat in Leighton Buzzard in just under a week. The management company has quoted £300 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Leighton Buzzard?

    Leighton Buzzard conveyancing on leasehold flats usually requires the buyer’s conveyancer sending questions for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be content to assist. They are at liberty invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee levied by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, without which the invoice is not strictly payable. In reality one has little option but to pay whatever is demanded should you wish to sell the property.

    I own a 1 bedroom flat in Leighton Buzzard, conveyancing formalities finalised 2006. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Leighton Buzzard with a long lease are worth £220,000. The ground rent is £60 per annum. The lease ends on 21st October 2099

    With only 74 years left to run we estimate the price of your lease extension to span between £8,600 and £9,800 plus legals.

    The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should 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 Leighton Buzzard