Frequently asked questions relating to Ardleigh Green leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Ardleigh Green. Before I get started I require certainty as to the remaining lease term.
If the lease is registered - and almost all are in Ardleigh Green - 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.
Due to exchange soon on a studio apartment in Ardleigh Green. Conveyancing solicitors inform me that they are sending me a report next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Ardleigh Green should include some of the following:
- The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
I've found a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Ardleigh Green. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?
The majority of houses in Ardleigh Green are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Ardleigh Green in which case you should be shopping around for a Ardleigh Green conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent 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 located on an estate. Your lawyer will advise you fully on all the issues.
Do you have any top tips for leasehold conveyancing in Ardleigh Green from the perspective of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Ardleigh Green can be reduced if you instruct lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the buyers solicitors.
- If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Ardleigh Green state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord consenting to such changes. If you fail to have the consents to hand do not communicate with the landlord without checking with your conveyancer before hand.
I am the leaseholder of a ground-floor 1950’s flat in Ardleigh Green. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
Most certainly. We can put you in touch with a Ardleigh Green conveyancing firm who can help.
An example of a Lease Extension case for a Ardleigh Green property is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The unexpired term was 57.5 years.
What are the common defects that you see in leases for Ardleigh Green properties?
Leasehold conveyancing in Ardleigh Green is not unique. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the building
- Insurance obligations
- 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 may encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Bank of Scotland, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.