Fixed-fee leasehold conveyancing in Arkley:

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When it comes to leasehold conveyancing in Arkley, you will need to chose a conveyancing solicitor with leasehold experience. Whether your lender is to be Halifax, Birmingham Midshires or NatWest make sure you find a lawyer on their panel. Find a Arkley conveyancing lawyer with our search tool

Recently asked questions relating to Arkley leasehold conveyancing

I have just started marketing my garden apartment in Arkley.Conveyancing is yet to be initiated but I have just had a yearly service charge demand – Do I pay up?

It best that you discharge 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. This will smooth the conveyancing process.

I've found a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have since found out that the title is leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Arkley. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Arkley ?

The majority of houses in Arkley are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Arkley in which case you should be shopping around for a Arkley conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your conveyancer will report to you on the legal implications.

Back In 2007, I bought a leasehold house in Arkley. Conveyancing and Aldermore mortgage organised. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Arkley 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 this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Arkley conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I work for a busy estate agency in Arkley where we have experienced a few leasehold sales put at risk as a result of leases having less than 80 years remaining. I have been given contradictory information from local Arkley conveyancing firms. Could you clarify whether the seller of a flat can start the lease extension formalities for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Do you have any top tips for leasehold conveyancing in Arkley with the aim of expediting the sale process?

  • Much of the frustration in leasehold conveyancing in Arkley can be bypassed if you appoint lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the buyers representatives.
  • Many landlords or managing agents in Arkley charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Arkley.
  • Some Arkley leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you are supposed to have a share in the Management Company, you should ensure that you hold the original share certificate. Arranging a replacement share certificate can be a lengthy process and delays many a Arkley home move. Where a new share certificate is needed, you should approach the company officers or managing agents (where relevant) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Arkley conveyancing firm to help?

    Absolutely. We are happy to put you in touch with a Arkley conveyancing firm who can help.

    An example of a Lease Extension decision for a Arkley flat is Ground Floor Maisonette 17 Milton Road in January 2014. The Tribunal determined the premium payable by the Applicant to the should be £13,299 This case related to 1 flat. The unexpired term was 71.73 years.

    Other Topics

    Lease Extensions in Arkley