Fixed-fee leasehold conveyancing in Newbury Park:

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While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Newbury Park, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Top Five Questions relating to Newbury Park leasehold conveyancing

I am in need of some leasehold conveyancing in Newbury Park. Before I get started I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% are in Newbury Park - 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.

My wife and I may need to sub-let our Newbury Park ground floor flat for a while due to a career opportunity. We used a Newbury Park conveyancing practice in 2002 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?

Some leases for properties in Newbury Park do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

Planning to sign contracts shortly on a leasehold property in Newbury Park. Conveyancing solicitors inform me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

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

  • Defining your rights in relation to the communal areas in the block.For instance, does the lease provide for a right of way over an accessway or hallways?
  • You need to be told what constitutes a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • 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)
  • 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
  • Responsibility for repairing the window frames For a comprehensive list of information to be included in your report on your leasehold property in Newbury Park please ask your solicitor in advance of your conveyancing in Newbury Park

    • I am attracted to a couple of maisonettes in Newbury Park which have approximately fifty years remaining on the leases. should I be concerned?

    There are plenty of short leases in Newbury Park. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the saleability of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this area

    Do you have any top tips for leasehold conveyancing in Newbury Park from the point of view of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Newbury Park can be reduced if you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation needed by the buyers solicitors.
    • Many freeholders or Management Companies in Newbury Park charge for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Newbury Park.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you installed wooden flooring? Newbury Park leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord consenting to such works. Where you fail to have the paperwork in place you should not communicate with the landlord without contacting your solicitor in advance.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to discharge 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 buyers, but it is better to present the dispute as historic as opposed to unsettled.
  • You may think that you are aware of the number of years left on your lease but you should double-check by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is less than 75 years. It is therefore essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I have had difficulty in trying to purchase the freehold in Newbury Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    You certainly can. We are happy to put you in touch with a Newbury Park conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Newbury Park premises is 104 Coventry Road in July 2014. The Tribunal determined that the lease extension permium should be £22,896.15 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 60.29 years.

    Other Topics

    Lease Extensions in Newbury Park