Guaranteed fixed fees for Leasehold Conveyancing in Marston Moretaine

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Top Five Questions relating to Marston Moretaine leasehold conveyancing

I am in need of some leasehold conveyancing in Marston Moretaine. Before I set the wheels in motion I want to be sure as to the remaining lease term.

Assuming the lease is registered - and most are in Marston Moretaine - then the leasehold title will always include the basic details 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.

I want to sublet my leasehold apartment in Marston Moretaine. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Your lease governs the relationship between the freeholder and you the flat owner; in particular, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Marston Moretaine do not prevent strict prohibition on subletting – such a clause would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

What are your top tips when it comes to appointing a Marston Moretaine conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Marston Moretaine conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Marston Moretaine conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

  • How experienced is the practice with lease extension legislation?
  • If the firm is not ALEP accredited then what is the reason?

    • Do you have any advice for leasehold conveyancing in Marston Moretaine from the point of view of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Marston Moretaine can be reduced where you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold information needed by the purchasers’ solicitors.
    • A minority of Marston Moretaine leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If you have had conflict with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where there is an ongoing 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 ahead of 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 better to reveal the dispute as historic rather than unsettled.
  • If you are supposed to have a share in the freehold, you should ensure that you have the original share document. Arranging a duplicate share certificate can be a time consuming formality and frustrates many a Marston Moretaine home move. If a duplicate share certificate is needed, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 75 years. It is therefore important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • What makes a Marston Moretaine lease defective?

    There is nothing unique about leasehold conveyancing in Marston Moretaine. Most leases is drafted differently and drafting errors can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the building
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Chelsea Building Society, and Clydesdale all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.

    Marston Moretaine Leasehold Conveyancing - Examples of Questions you should ask before buying

      Does the lease contain onerous restrictions? Who manages the block? It is important to be aware whether window replacement or some other significant cost is pending that will be shared between the tenants and will materially increase the the maintenance charges or require a specific payment.

    Other Topics

    Lease Extensions in Marston Moretaine