Fixed-fee leasehold conveyancing in Little Oakley:

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Leasehold conveyancing in Little Oakley 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 Little Oakley and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Top Five Questions relating to Little Oakley leasehold conveyancing

Expecting to complete next month on a leasehold property in Little Oakley. Conveyancing lawyers have said that they are sending me a report tomorrow. What should I be looking out for?

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

  • How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • You should have a good understanding of the insurance provisions
  • 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
  • Responsibility for repairing the window frames
  • What you can do if a neighbour breach a clause of their lease?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Little Oakley please ask your lawyer in ahead of your conveyancing in Little Oakley

    • Estate agents have just been given the go-ahead to market my 2 bed flat in Little Oakley.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

    Your conveyancing lawyer is likely to suggest that you should clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

    I've found a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Little Oakley. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Little Oakley ?

    The majority of houses in Little Oakley are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Little Oakley so you should seriously consider looking for a Little Oakley conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As 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 landlord’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer should report to you on the legal implications.

    Last month I purchased a leasehold property in Little Oakley. Am I liable to pay service charges relating to a period prior to completion of my purchase?

    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. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).

    Can you provide any advice for leasehold conveyancing in Little Oakley with the intention of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Little Oakley can be reduced if you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the buyers conveyancers.
    • The majority landlords or Management Companies in Little Oakley levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Little Oakley.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you laid down wooden flooring? Little Oakley leases often stipulate that internal structural changes or laying down wooden flooring require a licence issued by the Landlord acquiescing to such changes. Where you fail to have the approvals in place you should not contact the landlord without contacting your conveyancer in the first instance.
  • A minority of Little Oakley leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • You believe that you know the number of years left on your lease but you should double-check by asking your lawyers. A purchaser's lawyer will not be happy to advise their client to where the lease term is less than 75 years. It is therefore important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • Little Oakley Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying

      It is important to be aware if redecorating or some other significant cost is due in the near future to be shared between the tenants and will materially impact the level of the service fees or result in a specific payment. The answer will be important as a) areas could cause problems for the building as the communal areas may start to deteriorate where repairs are not paid for b) if the leasehold owners have an issue with the running of the building you will need to know about it Does the lease have in excess of 85 years unexpired?

    Other Topics

    Lease Extensions in Little Oakley