Fixed-fee leasehold conveyancing in Bulls Cross:

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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Bulls Cross, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in Bulls Cross

I only have 68 years unexpired on my lease in Bulls Cross. I now wish to extend my lease but my landlord is can not be found. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to locate the lessor. On the whole an enquiry agent may be helpful to conduct investigations and prepare a report to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Bulls Cross.

I have just started marketing my ground floor flat in Bulls Cross.Conveyancing solicitors are to be appointed soon but I have just had a quarterly maintenance charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should 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 until 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 meet my requirements, at a great figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Bulls Cross. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Bulls Cross ?

The majority of houses in Bulls Cross 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. It is clear that you are purchasing in Bulls Cross so you should seriously consider shopping around for a Bulls Cross conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor should advise you fully on all the issues.

I am tempted by the attractive purchase price for a two maisonettes in Bulls Cross both have about 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Bulls Cross is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. The majority of purchasers and banks, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Bulls Cross conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Do you have any top tips for leasehold conveyancing in Bulls Cross with the aim of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Bulls Cross can be avoided where you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the buyers solicitors.
  • 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 Bulls Cross state that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord approving such works. Where you dont have the paperwork in place do not communicate with the landlord without contacting your lawyer first.
  • If you have had conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to unsettled.
  • If you are supposed to have a share in the Management Company, you should make sure that you hold the original share document. Organising a re-issued share certificate can be a lengthy process and frustrates many a Bulls Cross conveyancing deal. Where a new share certificate is required, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.
  • 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 not be happy to advise their client to to exchange contracts if the lease term is below 75 years. It is therefore essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Following years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Bulls Cross. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    You certainly can. We can put you in touch with a Bulls Cross conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Bulls Cross residence is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case was in relation to 1 flat. The unexpired term was 81.79 years.