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

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

Sudbury leasehold conveyancing Example Support Desk Enquiries

Expecting to sign contracts shortly on a basement flat in Sudbury. Conveyancing solicitors inform me that they will have a report out to me on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Sudbury 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, freeholder
  • Will you be prohibited or prevented from having pets in the property?
  • Whether your lease has a provision for a reserve fund?
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What you can do if a neighbour breach a clause of their lease? For details of the information to be contained in your report on your leasehold property in Sudbury please ask your lawyer in advance of your conveyancing in Sudbury

  • I am looking at a couple of maisonettes in Sudbury both have approximately 50 years remaining on the lease term. Will this present a problem?

    A lease is a right to use the property for a prescribed time frame. As the lease shortens the value of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena

    I've recently bought a leasehold property in Sudbury. Do I have any liability for service charges relating to a period prior to my ownership?

    In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    What are your top tips when it comes to appointing a Sudbury conveyancing firm to deal with our lease extension?

    If you are instructing a solicitor for lease extension works (regardless if they are a Sudbury conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Sudbury 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 helpful:

    • If the firm is not ALEP accredited then why not?
  • What are the costs for lease extension work?

  • Can you provide any advice for leasehold conveyancing in Sudbury with the intention of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Sudbury can be bypassed if you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
    • The majority freeholders or Management Companies in Sudbury charge for providing 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 reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Sudbury.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Sudbury state that internal structural alterations or installing wooden flooring require a licence from the Landlord consenting to such alterations. Should you fail to have the approvals to hand do not communicate with the landlord without checking with your conveyancer first.
  • Some Sudbury leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The 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 buyers or their solicitors.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Obtaining a new share certificate is often a lengthy formality and frustrates many a Sudbury home move. If a new share is necessary, do contact the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.

  • We have reached the end of our tether in trying to purchase the freehold in Sudbury. Can this matter be resolved via the Leasehold Valuation Tribunal?

    if there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to calculate the amount due.

    An example of a Lease Extension matter before the tribunal for a Sudbury flat is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case affected 1 flat. The unexpired term was 74 years.

    Other Topics

    Lease Extensions in Sudbury