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Any conveyancing practice can theoretically handle your leasehold conveyancing in Market Harborough, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in Market Harborough

Looking forward to exchange soon on a studio apartment in Market Harborough. Conveyancing lawyers assured me that they will have a report out to me tomorrow. What should I be looking out for?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Will you be prohibited or prevented from having pets in the property?
  • 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
  • Changes to the flat (alterations and additions)
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Responsibility for repairing the window frames
  • What you can do if a neighbour breach a clause of their lease? For a comprehensive list of information to be included in your report on your leasehold property in Market Harborough please ask your lawyer in ahead of your conveyancing in Market Harborough

    • Back In 2000, I bought a leasehold flat in Market Harborough. Conveyancing and Halifax mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Market Harborough who previously acted has now retired.Any advice?

    The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Market Harborough 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 no more than 6 years of rent can be collected.

    I am attracted to a two apartments in Market Harborough both have in the region of fifty years left on the leases. Do I need to be concerned?

    A lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the value of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field

    I am a negotiator for a busy estate agent office in Market Harborough where we have experienced a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Market Harborough conveyancing firms. Could you clarify whether the owner of a flat can commence the lease extension process for the buyer?

    As long as the seller has been the owner 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 buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

    Alternatively, it may be possible 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 purchaser.

    Can you offer any advice when it comes to choosing a Market Harborough conveyancing practice to carry out our lease extension conveyancing?

    When appointing a solicitor for lease extension works (regardless if they are a Market Harborough conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Market Harborough conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

    • If the firm is not ALEP accredited then what is the reason?
  • Can they put you in touch with client in Market Harborough who can give a testimonial?

    • Market Harborough Leasehold Conveyancing - A selection of Queries before buying

      What restrictions are there in the Market Harborough Lease? It would be prudent to discover as much as possible regarding the managing agents as they will either make life much simpler or much more difficult. As the proprietor of a leasehold property you will be in the clutches of the managing agents from a financial perspective and when it comes to practical matters such as the tidiness of the communal areas. You should not be shy to ask other people what they think of them. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and specifically how they are spending the funds. Generally speaking the outlay for major works are not incorporated into the service charges, although a few managing agents in Market Harborough ask leaseholders to pay into a sinking fund created for the specific intention of establishing a fund for major repairs or maintenance.

    Other Topics

    Lease Extensions in Market Harborough