Quality lawyers for Leasehold Conveyancing in Luton

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Luton leasehold conveyancing Example Support Desk Enquiries

I only have Fifty years remaining on my lease in Luton. I now want to extend my lease but my landlord is absent. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the freeholder. On the whole a specialist would be useful to carry out a search and prepare an expert document which can be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Luton.

I today plan to offer on a house that appears to meet my requirements, at a great price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Luton. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

Most houses in Luton are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Luton in which case you should be shopping around for a Luton conveyancing practitioner 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. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your solicitor will advise you fully on all the issues.

I am looking at a couple of maisonettes in Luton which have about 50 years left on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Luton. The lease is a right to use the property for a period of time. As the lease shortens the value of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena

I am employed by a busy estate agency in Luton where we have experienced a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Luton conveyancing firms. Can you shed some light as to whether the vendor of a flat can instigate 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 kick-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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

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 purchaser.

Do you have any advice for leasehold conveyancing in Luton with the purpose of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Luton can be avoided where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information needed by the purchasers’ conveyancers.
  • The majority freeholders or Management Companies in Luton charge for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Luton.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Luton leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence from the Landlord approving such alterations. Should you dont have the approvals in place you should not communicate with the landlord without checking with your lawyer before hand.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. 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 purchasers, but it is clearly preferable to reveal the dispute as historic rather than ongoing.
  • If you hold a share in a the Management Company, you should make sure that you have the original share certificate. Organising a new share certificate is often a time consuming formality and delays many a Luton conveyancing transaction. Where a reissued share is needed, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.

  • Luton Leasehold Conveyancing - Examples of Questions you should consider Prior to buying

      Are any of leasehold owners in arrears of their service charge liability? The answer will be useful as a) areas may cause problems in the building as the communal areas may start to deteriorate where repairs are not paid for b) if the leasehold owners have a dispute with the managing agents you will need to have all the details Who manages the building?

    Other Topics

    Lease Extensions in Luton