Quality lawyers for Leasehold Conveyancing in Sudbury

Get a Quote

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

Sudbury leasehold conveyancing: Q and A’s

Expecting to exchange soon on a leasehold property in Sudbury. Conveyancing lawyers have said that they will have a report out to me next week. What should I be looking out for?

The 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, landlord
  • The physical extent of the property. This will be the property itself but may incorporate a loft or basement if applicable.
  • Setting out your rights in relation to the communal areas in the building.For instance, does the lease contain a right of way over a path or staircase?
  • Whether your lease has a provision for a reserve fund?
  • You should have a good understanding of the insurance provisions
  • 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 For a comprehensive list of information to be contained in your report on your leasehold property in Sudbury please ask your lawyer in ahead of your conveyancing in Sudbury

    • I have just started marketing my ground floor apartment in Sudbury.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge invoice – what should I do?

    It best that you clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

    Last month I purchased a leasehold property in Sudbury. Am I liable to pay service charges for periods before completion of my purchase?

    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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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).

    Can you offer any advice when it comes to appointing a Sudbury conveyancing firm to carry out our lease extension conveyancing?

    When appointing a solicitor for lease extension works (regardless if they are a Sudbury conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Sudbury conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

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

    • Following months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Sudbury. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    if there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the amount due.

    An example of a Lease Extension case for a Sudbury premises 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 the number of years remaining on the existing lease(s) was 74 years.

    What makes a Sudbury lease problematic?

    Leasehold conveyancing in Sudbury is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the premises
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • 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. Lloyds TSB Bank, Leeds Building Society, and TSB 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 grant the mortgage, obliging the purchaser to pull out.

    Other Topics

    Lease Extensions in Sudbury