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

Get a Quote

Whether you are buying or selling leasehold flat in Mansfield Woodhouse, our panel of leasehold conveyancing experts will help you move with as little stress as possible. Find a Mansfield Woodhouse conveyancing lawyer with our search tool

Questions and Answers: Mansfield Woodhouse leasehold conveyancing

Due to sign contracts shortly on a garden flat in Mansfield Woodhouse. Conveyancing lawyers have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

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

  • You should be sent a copy of the lease
  • Does the lease prohibit wood flooring?
  • Does the lease prevent you from subletting the flat, or having a home office for business
  • 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 sinking fund?
  • Repair and maintenance of the flat
  • Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in Mansfield Woodhouse please ask your solicitor in advance of your conveyancing in Mansfield Woodhouse

    • I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Mansfield Woodhouse. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Mansfield Woodhouse ?

    The majority of houses in Mansfield Woodhouse are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Mansfield Woodhouse so you should seriously consider looking for a Mansfield Woodhouse conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee 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’spermission to conduct alterations. You may also be required to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your lawyer should report to you on the legal implications.

    I own a leasehold flat in Mansfield Woodhouse. Conveyancing and Barnsley Building Society mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Mansfield Woodhouse who previously acted has now retired.Do I pay?

    First contact HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Mansfield Woodhouse conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    What advice can you give us when it comes to choosing a Mansfield Woodhouse conveyancing firm to deal with our lease extension?

    If you are instructing a conveyancer for your lease extension (regardless if they are a Mansfield Woodhouse conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Mansfield Woodhouse conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

    • How familiar is the firm with lease extension legislation?
  • What are the costs for lease extension work?

    • Do you have any advice for leasehold conveyancing in Mansfield Woodhouse from the point of view of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Mansfield Woodhouse can be bypassed if you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ solicitors.
    • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Mansfield Woodhouse leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. Should you fail to have the approvals to hand you should not contact the landlord without contacting your conveyancer first.
  • A minority of Mansfield Woodhouse 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 put in hand financial (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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you hold a share in a the freehold, you should make sure that you hold the original share certificate. Obtaining a new share certificate is often a lengthy formality and delays many a Mansfield Woodhouse conveyancing deal. If a new share certificate is required, you should approach the company director and secretary or managing agents (if applicable) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this via your lawyers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I purchased a garden flat in Mansfield Woodhouse, conveyancing was carried out 2003. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Mansfield Woodhouse with a long lease are worth £178,000. The ground rent is £55 charged once a year. The lease expires on 21st October 2086

    With 61 years left to run we estimate the price of your lease extension to range between £21,900 and £25,200 plus costs.

    The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Mansfield Woodhouse