Leasehold Conveyancing in Oakleigh Park - Get a Quote from the leasehold experts approved by your lender

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Leasehold conveyancing in Oakleigh Park is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Oakleigh Park and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Sample questions relating to Oakleigh Park leasehold conveyancing

I am hoping to exchange soon on a garden flat in Oakleigh Park. Conveyancing lawyers inform me that they will have a report out to me tomorrow. What should I be looking out for?

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

  • You should be sent a copy of the lease
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • Are you allowed to have a pet in the flat?
  • Does the lease prevent you from renting out the flat, or having a home office for business
  • 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
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? For a comprehensive list of information to be included in your report on your leasehold property in Oakleigh Park please enquire of your solicitor in ahead of your conveyancing in Oakleigh Park

    • I own a leasehold flat in Oakleigh Park. Conveyancing and Birmingham Midshires mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Oakleigh Park who previously acted has long since retired.What should I do?

    The first thing you should do is contact HMLR to make sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Oakleigh Park conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am looking at a two flats in Oakleigh Park both have in the region of 50 years unexpired on the leases. Do I need to be concerned?

    There are plenty of short leases in Oakleigh Park. The lease is a right to use the property for a period of time. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to extend the lease term. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena

    What advice can you give us when it comes to finding a Oakleigh Park conveyancing firm to carry out our lease extension conveyancing?

    When appointing a solicitor for your lease extension (regardless if they are a Oakleigh Park conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Oakleigh Park conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

    • If they are not ALEP accredited then why not?
  • Can they put you in touch with client in Oakleigh Park who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in Oakleigh Park from the point of view of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Oakleigh Park can be avoided where you appoint lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ representatives.
    • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Oakleigh Park leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Should you fail to have the consents in place you should not contact the landlord without contacting your solicitor in the first instance.
  • A minority of Oakleigh 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 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.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share certificate. Arranging a replacement share certificate can be a time consuming formality and slows down many a Oakleigh Park conveyancing deal. Where a duplicate share certificate is required, do contact the company officers or managing agents (if relevant) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but you should verify this by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is 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 premises on the market for sale.

    • I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Oakleigh Park conveyancing firm to represent me?

    if there is a missing landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to assess the sum to be paid.

    An example of a Lease Extension case for a Oakleigh Park residence is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case related to 1 flat. The the unexpired term as at the valuation date was 76 years.