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

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Leasehold conveyancing in Mansfield is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Mansfield and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Recently asked questions relating to Mansfield leasehold conveyancing

Expecting to exchange soon on a ground floor flat in Mansfield. Conveyancing lawyers have said that they will have a report out to me next week. What should I be looking out for?

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

  • Defining your legal entitlements in relation to the communal areas in the block.For instance, does the lease provide for a right of way over a path or hallways?
  • Will you be prohibited or prevented from having pets in the property?
  • Does the lease prevent you from letting out the flat, or working from home
  • You must be told what constitutes a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property 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 Mansfield please enquire of your lawyer in advance of your conveyancing in Mansfield

    • I am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Mansfield. Conveyancing advisers have not yet been appointed. Will they explain the issues?

    The majority of houses in Mansfield are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Mansfield in which case you should be shopping around for a Mansfield conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer will appraise you on the various issues.

    I own a leasehold flat in Mansfield. Conveyancing and Bank of Scotland mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Mansfield who acted for me is not around.Do I pay?

    The first thing you should do is contact HMLR to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Mansfield conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, 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 tempted by the attractive purchase price for a two flats in Mansfield both have about forty five years left on the leases. Will this present a problem?

    There is no doubt about it. A leasehold flat in Mansfield is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. For most buyers and mortgage companies, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Mansfield conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

    Do you have any advice for leasehold conveyancing in Mansfield with the intention of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Mansfield can be reduced where you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ lawyers.
    • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Mansfield state that internal structural changes or addition of wooden flooring require a licence from the Landlord acquiescing to such works. Where you dont have the consents in place you should not contact the landlord without checking with your conveyancer in advance.
  • Some Mansfield 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 financial (bank) and professional references. The bank reference should make it clear that the buyer is 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 lawyers.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be concerned about purchasing a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unsettled.
  • If you hold a share in a the freehold, you should ensure that you are holding the original share document. Arranging a re-issued share certificate can be a time consuming process and frustrates many a Mansfield home move. If a new share certificate is needed, you should approach the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.

    • I purchased a ground floor flat in Mansfield, conveyancing having been completed in 1998. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Mansfield with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £50 per annum. The lease ceases on 21st October 2089

    With only 64 years remaining on your lease the likely cost is going to span between £18,100 and £20,800 plus plus your own and the landlord's "reasonable" professional fees.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Mansfield