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

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When it comes to leasehold conveyancing in Malpas, you will need to appoint a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Santander, Yorkshire Building Society or NatWest make sure you choose a lawyer on their approved list. Feel free to use our search tool

Malpas leasehold conveyancing Example Support Desk Enquiries

I’m about to sell my garden apartment in Malpas.Conveyancing has not commenced but I have just received a half-yearly service charge demand – what should I do?

The sensible thing to do is clear 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 managing agents will not acknowledge the buyer unless 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 am employed by a reputable estate agent office in Malpas where we have witnessed a few flat sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Malpas conveyancing firms. Can you clarify whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease 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. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. 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.

Can you offer any advice when it comes to appointing a Malpas conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Malpas conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Malpas conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • What volume of lease extensions has the firm completed in Malpas in the last twenty four months?
  • Can they put you in touch with client in Malpas who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Malpas with the aim of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Malpas can be reduced where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the purchasers’ lawyers.
    • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Malpas state that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. Should you fail to have the approvals in place you should not communicate with the landlord without checking with your conveyancer in the first instance.
  • A minority of Malpas leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is 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 buyers or their lawyers.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Organising a re-issued share certificate can be a lengthy process and frustrates many a Malpas conveyancing deal. Where a reissued share is necessary, do contact 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 left on your lease but you should double-check via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. It is therefore important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • What are the common defects that you come across in leases for Malpas properties?

    There is nothing unique about leasehold conveyancing in Malpas. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the property
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Leeds Building Society, and Barclays Direct all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.

    Leasehold Conveyancing in Malpas - Sample of Questions you should ask before buying

      How many of the leaseholders are in arrears for their service charge payments? Best to be warned if window replacement or some other significant cost is due in the near future to be shared between the tenants and could well materially impact the level of the service costs or require a one time invoice. For most Malpas leaseholds the cost for major works tend not to be incorporated into the maintenance charges, although there some managing agents in Malpas obliged leaseholders to contribute towards a sinking fund and this is used to offset against larger works.

    Other Topics

    Lease Extensions in Malpas