Experts for Leasehold Conveyancing in Leighton Buzzard

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When it comes to leasehold conveyancing in Leighton Buzzard, you will need to appoint a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Santander, RBS or Nationwide be sure to find a lawyer on their panel. Feel free to use our search tool

Frequently asked questions relating to Leighton Buzzard leasehold conveyancing

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

Assuming the lease is registered - and almost all 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 today plan to offer on a house that appears to meet my requirements, at a great figure which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Leighton Buzzard. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Leighton Buzzard ?

Most houses in Leighton Buzzard are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Leighton Buzzard so you should seriously consider shopping around for a Leighton Buzzard conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your solicitor will advise you fully on all the issues.

Last month I purchased a leasehold flat in Leighton Buzzard. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any advice for leasehold conveyancing in Leighton Buzzard from the perspective of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Leighton Buzzard can be bypassed if you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation needed by the buyers lawyers.
  • The majority landlords or managing agents in Leighton Buzzard levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Leighton Buzzard.
  • If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Leighton Buzzard leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such alterations. If you fail to have the approvals in place do not communicate with the landlord without contacting your lawyer before hand.
  • A minority of Leighton Buzzard leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to 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 able to meet 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 lawyers.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is 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.

    • When it comes to leasehold conveyancing in Leighton Buzzard what are the most frequent lease problems?

    Leasehold conveyancing in Leighton Buzzard is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the building
    • A duty to insure the building
    • 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

    You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Coventry Building Society, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to pull out.

    I own a leasehold flat in Leighton Buzzard, conveyancing was carried out 2001. 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? Similar properties in Leighton Buzzard with over 90 years remaining are worth £265,000. The ground rent is £50 charged once a year. The lease terminates on 21st October 2099

    With 74 years unexpired we estimate the price of your lease extension to be between £14,300 and £16,400 plus plus your own and the landlord's "reasonable" professional fees.

    The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Leighton Buzzard