Guaranteed fixed fees for Leasehold Conveyancing in Long Eaton

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Examples of recent questions relating to leasehold conveyancing in Long Eaton

I have just appointed agents to market my garden apartment in Long Eaton.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge demand – Do I pay up?

The sensible thing to do is pay the invoice 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 management companies 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.

I've found a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Long Eaton. Conveyancing advisers have not yet been appointed. Will they explain the issues?

The majority of houses in Long Eaton are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Long Eaton in which case you should be shopping around for a Long Eaton conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer should advise you fully on all the issues.

I am employed by a long established estate agent office in Long Eaton where we have experienced a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Long Eaton conveyancing solicitors. Can you confirm whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?

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 can avoid having 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 sale.

Alternatively, it may be possible 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 provide any advice for leasehold conveyancing in Long Eaton from the point of view of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Long Eaton can be avoided where you instruct lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Long Eaton state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord consenting to such works. If you dont have the paperwork to hand you should not contact the landlord without contacting your lawyer first.
  • Some Long Eaton leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual 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.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share certificate. Obtaining a replacement share certificate can be a time consuming formality and frustrates many a Long Eaton home move. Where a duplicate share certificate is required, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your lawyers. 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 under 80 years. In the circumstances it is important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • All being well we will complete the disposal of our £350000 flat in Long Eaton in just under a week. The landlords agents has quoted £372 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Long Eaton?

    Long Eaton conveyancing on leasehold maisonettes more often than not necessitates the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions most will be content to assist. They may charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some cases it is in excess of £800. The administration charge levied by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, otherwise the invoice is not strictly payable. Reality however dictates that you have little option but to pay whatever is requested of you if you want to complete the sale of your home.

    Long Eaton Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to buying

      Be sure to discover if there are any onerous prohibitions in the lease. For example some leases prohibit pets being permitted in certain buildings in Long Eaton. If you like the propertyin Long Eaton yet your dog can’t move with you then you have a very difficult choice. Are any of leasehold owners in arrears of their service charge liability? You will want to find out as much as possible about the company managing the block as they can either make your living at the property much simpler or uncomfortable. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to every day matters such as the upkeep of the communal areas. Enquire of prospective neighbours if they are happy with them. In conclusion, find out the dates that the maintenance charges are due to the relevant party and precisely what you get for your money.

    Other Topics

    Lease Extensions in Long Eaton