Experts for Leasehold Conveyancing in Sands End

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Any conveyancing practice can theoretically handle your leasehold conveyancing in Sands End, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Frequently asked questions relating to Sands End leasehold conveyancing

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Sands End. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Sands End ?

Most houses in Sands End are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Sands End so you should seriously consider shopping around for a Sands End conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer will appraise you on the various issues.

My wife and I purchased a leasehold flat in Sands End. Conveyancing and Barclays mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Sands End who previously acted has long since retired.Do I pay?

First contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Sands End conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

What are your top tips when it comes to appointing a Sands End conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Sands End conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Sands End conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

  • What volume of lease extensions has the firm completed in Sands End in the last 12 months?
  • What are the charges for lease extension work?

    • Do you have any top tips for leasehold conveyancing in Sands End from the perspective of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Sands End can be reduced where you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information which will be required by the buyers solicitors.
    • Many freeholders or Management Companies in Sands End levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Sands End.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example installed wooden flooring? Sands End leases often stipulate that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord acquiescing to such changes. If you dont have the approvals to hand do not contact the landlord without contacting your solicitor before hand.
  • Some Sands End leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as over as opposed to unsettled.

    • I am the registered owner of a ground floor flat in Sands End. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?

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

    An example of a Freehold Enfranchisement matter before the tribunal for a Sands End flat is 29 Sisters Avenue in April 2013. The Tribunal camme to the conclusion that the entire freehold should be transferred by the landlord to the nominee purchaser. The price to be paid was the sum of £53,527. This had been arrived at by applying a deferment rate of 5.25% to the freehold reversion and relativity of 95.4% to the leasehold values. This case related to 4 flats. The the number of years remaining on the existing lease(s) was 85.78 years.

    When it comes to leasehold conveyancing in Sands End what are the most common lease problems?

    Leasehold conveyancing in Sands End is not unique. All leases are unique and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the property
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Norwich and Peterborough Building Society, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.