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

Get a Quote

Leasehold conveyancing in Waddon 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 Waddon and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Questions and Answers: Waddon leasehold conveyancing

Planning to complete next month on a studio apartment in Waddon. Conveyancing solicitors assured 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 Waddon should include some of the following:

  • The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a reserve fund?
  • Repair and maintenance of the flat
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Responsibility for repairing the window frames
  • What options are open to you if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be included in your report on your leasehold property in Waddon please enquire of your lawyer in advance of your conveyancing in Waddon

    • I have just appointed agents to market my garden apartment in Waddon.Conveyancing is yet to be initiated but I have just had a quarterly service charge demand – should I leave it to the buyer to sort out?

    The sensible thing to do is discharge 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. Having a clear account will assist your cause and will leave you no worse off financially.

    I work for a reputable estate agent office in Waddon where we see a number of flat sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Waddon conveyancing solicitors. Could you shed some light as to whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done 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.

    What are your top tips when it comes to finding a Waddon conveyancing practice to carry out our lease extension conveyancing?

    When appointing a solicitor for your lease extension (regardless if they are a Waddon conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Waddon 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 why not?
  • What are the costs for lease extension work?

    • Do you have any advice for leasehold conveyancing in Waddon with the intention of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Waddon can be bypassed if you instruct lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the purchasers’ conveyancers.
    • A minority of Waddon leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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 lawyers.
  • If you have had any disputes with your freeholder 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 concerned about purchasing a property where there is a current 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 are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to unresolved.
  • If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share document. Obtaining a re-issued share certificate can be a time consuming formality and slows down many a Waddon home move. Where a new share is required, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this via your solicitors. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. It is therefore important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Waddon conveyancing firm to represent me?

    Most certainly. We are happy to put you in touch with a Waddon conveyancing firm who can help.

    An example of a Freehold Enfranchisement case for a Waddon flat is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case was in relation to 4 flats. The unexpired term was 98 years.

    Other Topics

    Lease Extensions in Waddon