Leasehold Conveyancing in Burroughs, The - Get a Quote from the leasehold experts approved by your lender

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Examples of recent questions relating to leasehold conveyancing in Burroughs, The

I am on look out for some leasehold conveyancing in Burroughs, The. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Burroughs, The - then the leasehold title will always include the short particulars 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.

I am hoping to exchange soon on a studio apartment in Burroughs, The. Conveyancing lawyers inform me that they report fully on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Burroughs, The 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 might incorporate a loft or basement if appropriate.
  • Are you allowed to have a pet in the flat?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Repair and maintenance of the flat
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? For details of the information to be contained in your report on your leasehold property in Burroughs, The please enquire of your conveyancer in ahead of your conveyancing in Burroughs, The

  • I have just appointed agents to market my garden flat in Burroughs, The.Conveyancing solicitors are to be appointed soon but I have just had a yearly service charge invoice – what should I do?

    It best that you pay the invoice 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 am employed by a reputable estate agent office in Burroughs, The where we have experienced a few flat sales put at risk due to short leases. I have received inconsistent advice from local Burroughs, The conveyancing firms. Please can you shed some light as to whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?

    As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

    Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

    Can you provide any advice for leasehold conveyancing in Burroughs, The from the perspective of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Burroughs, The can be reduced if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ lawyers.
    • Many landlords or managing agents in Burroughs, The levy fees for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Burroughs, The.
  • If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you laid down wooden flooring? Burroughs, The leases often stipulate that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord approving such works. If you fail to have the paperwork to hand you should not contact the landlord without contacting your lawyer first.
  • A minority of Burroughs, The leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you are supposed to have a share in the freehold, you should ensure that you hold the original share certificate. Arranging a new share certificate can be a lengthy process and slows down many a Burroughs, The home move. If a reissued share certificate is needed, do contact the company officers or managing agents (if applicable) for this sooner rather than later.

  • My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Burroughs, The. Can this matter be resolved via the Leasehold Valuation Tribunal?

    Most definitely. We can put you in touch with a Burroughs, The conveyancing firm who can help.

    An example of a Freehold Enfranchisement matter before the tribunal for a Burroughs, The residence is 1 & 1A Sunningfields Crescent in September 2013. The Tribunals calculation of the amount to be paid into court in respect of the value of the freehold interest is £11,997 in respect of Flat 1 and £15,781 in respect of Flat 1A for a total of £27,778. This case affected 2 flats. The unexpired term was 71.5 years.