Experts for Leasehold Conveyancing in Mancot

When it comes to leasehold conveyancing in Mancot, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your lender is to be Halifax, RBS or Nationwide make sure you choose a lawyer on their approved list. Feel free to use our search tool

Mancot leasehold conveyancing Example Support Desk Enquiries

There are only 72 years left on my flat in Mancot. I now wish to get lease extension but my freeholder is absent. What should I do?

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 for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to find the landlord. On the whole an enquiry agent would be useful to try and locate and to produce an expert document which can be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Mancot.

I am hoping to sign contracts shortly on a leasehold property in Mancot. Conveyancing lawyers assured me that they will have a report out to me on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Mancot should include some of the following:

  • Does the lease prevent you from letting out the property, or working from home
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • 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?
  • Changes to the flat (alterations and additions)
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • Responsibility for repairing the window frames For details of the information to be contained in your report on your leasehold property in Mancot please ask your conveyancer in ahead of your conveyancing in Mancot

  • My wife and I purchased a leasehold flat in Mancot. Conveyancing and Aldermore mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Mancot who acted for me is not around.Do I pay?

    First contact HMLR to make sure that this person is in fact the new freeholder. There is no need to incur the fees of a Mancot conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I am employed by a long established estate agency in Mancot where we have experienced a few leasehold sales jeopardised as a result of short leases. I have received conflicting advice from local Mancot conveyancing firms. Can you clarify whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?

    Provided that 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. This means that the proposed purchaser need not have to wait 2 years to extend their lease. 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.

    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.

    Do you have any top tips for leasehold conveyancing in Mancot from the perspective of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Mancot can be bypassed if you get in touch lawyers the minute your agents start advertising the property and ask them to put together the leasehold information which will be required by the buyers lawyers.
    • The majority freeholders or Management Companies in Mancot levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Mancot.
  • Some Mancot leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet 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 solicitors.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled before the property is 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 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 rather than unresolved.
  • You believe that you know the number of years remaining on your lease but it would be advisable double-check by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

  • I acquired a studio flat in Mancot, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Equivalent flats in Mancot with a long lease are worth £221,000. The average or mid-range amount of ground rent is £65 yearly. The lease expires on 21st October 2093

    You have 71 years remaining on your lease the likely cost is going to range between £8,600 and £9,800 plus legals.

    The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Mancot