Fixed-fee leasehold conveyancing in Lea Bridge:

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When it comes to leasehold conveyancing in Lea Bridge, you will need to chose a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Clydesdale , Birmingham Midshires or Nationwide be sure to choose a lawyer on their approved list. Feel free to use our search tool

Recently asked questions relating to Lea Bridge leasehold conveyancing

I am on look out for some leasehold conveyancing in Lea Bridge. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Lea Bridge - 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 would like to sublet my leasehold flat in Lea Bridge. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Even though your last Lea Bridge conveyancing solicitor is not around you can check your lease to check if you are permitted to let out the property. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you need to obtain permission via your landlord or other appropriate person before subletting. The net result is you not allowed to sublet in the absence of prior permission. Such consent must not not be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord for their consent.

I am hoping to sign contracts shortly on a studio apartment in Lea Bridge. Conveyancing solicitors have said that they report fully next week. What should I be looking out for?

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

  • You should be sent a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • You must be told what counts as a Nuisance in the lease
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Changes to the flat (alterations and additions)
  • 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. For a comprehensive list of information to be included in your report on your leasehold property in Lea Bridge please enquire of your conveyancer in advance of your conveyancing in Lea Bridge

    • I am attracted to a two maisonettes in Lea Bridge both have about fifty years left on the lease term. Will this present a problem?

    There are no two ways about it. A leasehold flat in Lea Bridge is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the salability of the premises. For most purchasers and banks, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 Lea Bridge 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.

    Can you provide any advice for leasehold conveyancing in Lea Bridge from the point of view of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Lea Bridge can be avoided if you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ lawyers.
    • Many freeholders or managing agents in Lea Bridge levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Lea Bridge.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Lea Bridge state that internal structural changes or laying down wooden flooring require a licence from the Landlord consenting to such changes. Should you fail to have the consents to hand do not communicate with the landlord without checking with your lawyer in advance.
  • A minority of Lea Bridge leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet 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.
  • You believe that you know the number of years left on your lease but you should double-check via your solicitors. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I am the leaseholder of a ground-floor 1960’s flat in Lea Bridge. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?

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

    An example of a Freehold Enfranchisement decision for a Lea Bridge premises is 104 Nightingale Road in May 2009. The Tribunal's Decision is that the premium torbe paid for the enfranchisement in this case is £112,174 This case was in relation to 10 flats. The unexpired lease term was 71.25 years.