Fixed-fee leasehold conveyancing in Linton:

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

Frequently asked questions relating to Linton leasehold conveyancing

I wish to rent out my leasehold flat in Linton. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

A small minority of properties in Linton do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold 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.

My wife and I purchased a leasehold flat in Linton. Conveyancing and Godiva Mortgages Ltd mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Linton who acted for me is not around.What should I do?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to instruct a Linton conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a couple of apartments in Linton both have in the region of 50 years unexpired on the leases. Will this present a problem?

A lease is a right to use the property for a period of time. As the lease shortens the marketability of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena

Can you provide any advice for leasehold conveyancing in Linton with the aim of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Linton can be bypassed if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ lawyers.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Linton state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord approving such alterations. Where you dont have the approvals to hand you should not communicate with the landlord without checking with your conveyancer in the first instance.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unsettled.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share certificate. Obtaining a re-issued share certificate is often a lengthy process and delays many a Linton conveyancing deal. Where a new share certificate is required, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.
  • 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 to exchange contracts if the lease term is under 80 years. It is therefore important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Are there frequently found deficiencies that you encounter in leases for Linton properties?

    Leasehold conveyancing in Linton is not unique. All leases are unique and legal mistakes in the legal wording can result in certain sections are wrong. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the building
    • 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. HSBC Bank, Virgin Money, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.

    I inherited a basement flat in Linton, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Linton with over 90 years remaining are worth £193,000. The ground rent is £55 per annum. The lease expires on 21st October 2087

    With only 61 years remaining on your lease we estimate the price of your lease extension to span between £22,800 and £26,400 as well as professional fees.

    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 comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously 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 Linton