Leasehold Conveyancing in Little Bromwich - Get a Quote from the leasehold experts approved by your lender

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Frequently asked questions relating to Little Bromwich leasehold conveyancing

I have recently realised that I have 72 years unexpired on my flat in Little Bromwich. I am keen to extend my lease but my freeholder is can not be found. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you have used your best endeavours to track down the freeholder. On the whole a specialist would be helpful to carry out a search and prepare an expert document which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Little Bromwich.

I am hoping to complete next month on a ground floor flat in Little Bromwich. Conveyancing solicitors have said that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Little Bromwich should include some of the following:

  • You should be sent a copy of the lease
  • The physical extent of the property. This will be the property itself but could also incorporate a roof space or cellar if applicable.
  • Are pets allowed in the flat?
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What you can do if a neighbour is in violation of a provision in their lease?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Little Bromwich please enquire of your lawyer in ahead of your conveyancing in Little Bromwich

    • I am tempted by the attractive purchase price for a two apartments in Little Bromwich both have approximately forty five years left on the leases. Will this present a problem?

    There are plenty of short leases in Little Bromwich. The lease is a right to use the property for a prescribed time frame. As a lease shortens the saleability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena

    Can you provide any top tips for leasehold conveyancing in Little Bromwich with the intention of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Little Bromwich can be bypassed if you get in touch lawyers the minute you market your property and request that they start 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 consent? Have you, for example installed wooden flooring? Most leases in Little Bromwich state that internal structural alterations or laying down wooden flooring require a licence from the Landlord consenting to such changes. Should you dont have the paperwork to hand you should not contact the landlord without checking with your lawyer first.
  • A minority of Little Bromwich leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If you have had any disputes with your landlord or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unsettled.
  • You believe that you know the number of years left on your lease but it would be wise to verify this via your conveyancers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 80 years. It is therefore essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • When it comes to leasehold conveyancing in Little Bromwich what are the most common lease defects?

    Leasehold conveyancing in Little Bromwich is not unique. All leases are unique 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 property
    • 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

    A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Bank of Scotland, and TSB all have very detailed conveyancing instructions 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, forcing the buyer to pull out.

    Little Bromwich Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing

      Does the lease have onerous restrictions? You should want to find out as much as you can about the company managing the block as they will affect your use and enjoyment of the property. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to practical matters like the cleanliness of the communal areas. Don't be afraid to ask other people if they are happy with their service. Finally, find out the dates that you are obliged pay the service charge to the managing agents and precisely what you get for your money. Where a Little Bromwich lease has fewer than 80 years it will affect the value of the apartment. Check with your bank that they are happy with remaining years on the lease. A short lease means that you will most likely have to extend the lease sooner rather than later and it is worth finding out how much this would cost. For most Little Bromwichlease extensions you would be required to have been the owner of the residence for a couple of years in order to be entitled to carry out a lease extension.

    Other Topics

    Lease Extensions in Little Bromwich