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Recently asked questions relating to Creekmouth leasehold conveyancing

Planning to complete next month on a basement flat in Creekmouth. Conveyancing solicitors assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Creekmouth should include some of the following:

  • Does the lease require carpeting throughout thus preventing wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • 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 options are open to you if a neighbour is in violation of a provision in their lease? For details of the information to be contained in your report on your leasehold property in Creekmouth please enquire of your solicitor in ahead of your conveyancing in Creekmouth

  • I have just appointed agents to market my basement flat in Creekmouth.Conveyancing solicitors are to be appointed soon but I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?

    Your conveyancing lawyer is likely to suggest that you should 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 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 am looking at a couple of flats in Creekmouth which have in the region of forty five years unexpired on the leases. should I be concerned?

    There are plenty of short leases in Creekmouth. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the value of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena

    Can you offer any advice when it comes to appointing a Creekmouth conveyancing firm to carry out our lease extension conveyancing?

    When appointing a solicitor for lease extension works (regardless if they are a Creekmouth conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Creekmouth conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

    • How experienced is the practice with lease extension legislation?
  • Can they put you in touch with client in Creekmouth who can give a testimonial?

  • Do you have any top tips for leasehold conveyancing in Creekmouth with the intention of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Creekmouth can be bypassed where you instruct lawyers as soon as you market your property and ask them to collate the leasehold information needed by the purchasers’ conveyancers.
    • The majority landlords or managing agents in Creekmouth charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Creekmouth.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Creekmouth state that internal structural changes or addition of wooden flooring calls for a licence from the Landlord consenting to such alterations. Where you fail to have the consents to hand do not communicate with the landlord without checking with your lawyer in the first instance.
  • If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share document. Obtaining a new share certificate is often a lengthy process and frustrates many a Creekmouth home move. If a new share is necessary, you should approach the company officers or managing agents (if relevant) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but it would be wise to double-check by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is essential at an as soon as possible that you identify 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.

  • I have tried to negotiate informally with with my landlord for a lease extension without success. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Creekmouth conveyancing firm to act on my behalf?

    Where there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to decide the premium.

    An example of a Lease Extension decision for a Creekmouth residence is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case related to 1 flat. The unexpired lease term was 69.77 years.

    Other Topics

    Lease Extensions in Creekmouth