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Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Marshfield, your mortgage provider may unwilling 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 Marshfield

Having had my offer accepted I require leasehold conveyancing in Marshfield. Before diving in I would like to find out the unexpired term of the lease.

If the lease is registered - and 99.9% are in Marshfield - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Having checked my lease I have discovered that there are only Fifty years left on my lease in Marshfield. I am keen to get lease extension but my landlord is absent. What should I do?

If 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 an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to demonstrate that you have done all that could be expected to find the lessor. In some cases an enquiry agent should be helpful to carry out a search and to produce a report to be used as proof that the landlord can not be located. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Marshfield.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Marshfield. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Marshfield ?

The majority of houses in Marshfield are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Marshfield in which case you should be shopping around for a Marshfield conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your conveyancer should report to you on the legal implications.

I've recently bought a leasehold flat in Marshfield. Do I have any liability for service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any top tips for leasehold conveyancing in Marshfield with the aim of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Marshfield can be bypassed where you appoint lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the buyers lawyers.
  • The majority landlords or Management Companies in Marshfield levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Marshfield.
  • If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you laid down wooden flooring? Marshfield leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord acquiescing to such alterations. Where you dont have the approvals to hand do not communicate with the landlord without contacting your lawyer first.
  • A minority of Marshfield leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain 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 solicitors.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and discharge 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 will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to ongoing.

    • I acquired a 2 bed flat in Marshfield, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Marshfield with a long lease are worth £200,000. The ground rent is £65 per annum. The lease ends on 21st October 2106

    With 80 years remaining on your lease we estimate the price of your lease extension to range between £8,600 and £9,800 as well as costs.

    The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Marshfield