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

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Common questions relating to Upminster Bridge leasehold conveyancing

I own a leasehold house in Upminster Bridge. Conveyancing and Yorkshire Building Society mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Upminster Bridge who acted for me is not around.Any advice?

The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Upminster Bridge conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am employed by a long established estate agency in Upminster Bridge where we have experienced a number of flat sales derailed due to short leases. I have been given inconsistent advice from local Upminster Bridge conveyancing firms. Could you clarify whether the seller of a flat can commence the lease extension formalities for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Can you offer any advice when it comes to choosing a Upminster Bridge conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Upminster Bridge conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Upminster Bridge conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

  • If the firm is not ALEP accredited then why not?
  • What volume of lease extensions has the firm conducted in Upminster Bridge in the last 12 months?

  • Can you provide any advice for leasehold conveyancing in Upminster Bridge with the intention of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Upminster Bridge can be reduced if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers lawyers.
    • The majority freeholders or Management Companies in Upminster Bridge charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack 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 cause of delay in leasehold conveyancing in Upminster Bridge.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you installed wooden flooring? Upminster Bridge leases often stipulate that internal structural changes or installing wooden flooring calls for a licence from the Landlord consenting to such changes. If you dont have the consents to hand you should not communicate with the landlord without checking with your lawyer in the first instance.
  • Some Upminster Bridge leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand 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 purchasers or their lawyers.
  • You believe that you know the number of years left on your lease but it would be wise to double-check by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to where the remaining number of years is less than 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

  • I am the registered owner of a basement flat in Upminster Bridge. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?

    Most definitely. We are happy to put you in touch with a Upminster Bridge conveyancing firm who can help.

    An example of a Lease Extension decision for a Upminster Bridge property is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The unexpired term was 57.5 years.

    What are the common defects that you encounter in leases for Upminster Bridge properties?

    There is nothing unique about leasehold conveyancing in Upminster Bridge. All leases are individual and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the property
    • A duty to insure the building
    • 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

    You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, The Royal Bank of Scotland, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.

    Other Topics

    Lease Extensions in Upminster Bridge