Experts for Leasehold Conveyancing in Motspur Park

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Sample questions relating to Motspur Park leasehold conveyancing

Planning to exchange soon on a studio apartment in Motspur Park. Conveyancing lawyers inform me that they are sending me a report on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Motspur Park should include some of the following:

  • The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
  • Does the lease prohibit wood flooring?
  • Are you allowed to have a pet in the flat?
  • You should be told what counts as a Nuisance in the lease
  • Whether your lease has a provision for a sinking fund?
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Motspur Park please enquire of your conveyancer in advance of your conveyancing in Motspur Park

    • I've found a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Motspur Park. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Motspur Park ?

    The majority of houses in Motspur Park are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Motspur Park in which case you should be shopping around for a Motspur Park conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your lawyer will report to you on the legal implications.

    What are your top tips when it comes to appointing a Motspur Park conveyancing firm to carry out our lease extension conveyancing?

    When appointing a conveyancer for lease extension works (regardless if they are a Motspur Park conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Motspur Park conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

    • If the firm is not ALEP accredited then what is the reason?
  • What are the costs for lease extension conveyancing?

    • Can you provide any top tips for leasehold conveyancing in Motspur Park with the purpose of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Motspur Park can be avoided where you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation needed by the buyers conveyancers.
    • If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you laid down wooden flooring? Motspur Park leases often stipulate that internal structural alterations or installing wooden flooring require a licence issued by the Landlord consenting to such works. Should you dont have the approvals to hand you should not contact the landlord without contacting your lawyer before hand.
  • A minority of Motspur Park 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 obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying 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 lawyers.
  • If you have had conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as over rather than unresolved.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share certificate. Obtaining a replacement share certificate can be a time consuming process and slows down many a Motspur Park home move. If a reissued share is required, do contact the company director and secretary or managing agents (if relevant) for this as soon as possible.

    • I have attempted and failed to negotiate with my landlord for a lease extension without success. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Motspur Park conveyancing firm to assist?

    in cases where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to arrive at the sum to be paid.

    An example of a Lease Extension decision for a Motspur Park property is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case affected 1 flat. The the unexpired term as at the valuation date was 60.43 years.

    In relation to leasehold conveyancing in Motspur Park what are the most common lease defects?

    Leasehold conveyancing in Motspur Park is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Leeds Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.

    Other Topics

    Lease Extensions in Motspur Park