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

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When it comes to leasehold conveyancing in Lyddington, you will need to chose a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Lloyds, RBS or Nationwide be sure to choose a lawyer on their panel. Feel free to use our search tool

Frequently asked questions relating to Lyddington leasehold conveyancing

There are only Fifty years unexpired on my flat in Lyddington. I now wish to get lease extension but my freeholder is missing. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to prove that you have done all that could be expected to find the landlord. In some cases a specialist may be useful to carry out a search and to produce an expert document to be used as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Lyddington.

My wife and I purchased a leasehold house in Lyddington. Conveyancing and Santander mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Lyddington who acted for me is not around.Any advice?

The first thing you should do is contact the Land Registry to be sure that this person is indeed the new freeholder. There is no need to instruct a Lyddington conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold flat in Lyddington. Am I liable to pay service charges relating to a period prior to 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. A critical element of leasehold conveyancing for your conveyancer to be sure 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).

Do you have any advice for leasehold conveyancing in Lyddington from the point of view of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Lyddington can be bypassed if you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the purchasers’ lawyers.
  • The majority freeholders or managing agents in Lyddington charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Lyddington.
  • A minority of Lyddington leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents 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 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or settle 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 details of the dispute to the purchasers, but it is clearly preferable to present the dispute as over as opposed to unresolved.
  • You believe that you know the number of years left on your lease but it would be advisable verify this by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. It is therefore essential 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 home on the market for sale.

    • What makes a Lyddington lease unacceptable for security purposes?

    Leasehold conveyancing in Lyddington is not unique. Most leases are individual and drafting errors can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the premises
    • Insurance obligations
    • 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

    A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Coventry Building Society, and Godiva Mortgages Ltd all have very detailed 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, forcing the purchaser to pull out.

    Lyddington Leasehold Conveyancing - Examples of Questions you should consider before Purchasing

      How is the lease structured? How many years remain on the lease? The prefered form of lease arrangement is a share of the freehold. In this arrangement the lessees enjoy control and although a managing agent is usually retained if the building is bigger than a house conversion, the managing agent is directed by the tenants.

    Other Topics

    Lease Extensions in Lyddington