Fixed-fee leasehold conveyancing in Martock:

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Questions and Answers: Martock leasehold conveyancing

I am hoping to complete next month on a ground floor flat in Martock. Conveyancing solicitors have said that they report fully next week. What should I be looking out for?

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

  • You should be sent a copy of the lease
  • Will you be prohibited or prevented from having pets in the property?
  • You should be told what counts as a Nuisance in the lease
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • 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.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What options are open to you if a neighbour breach a clause of their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Martock please enquire of your solicitor in ahead of your conveyancing in Martock

    • I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Martock. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

    Most houses in Martock are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Martock in which case you should be shopping around for a Martock conveyancing solicitor and be sure that they are used to 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 at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to conduct changes to the property. 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 should appraise you on the various issues.

    I own a leasehold flat in Martock. Conveyancing and Santander mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Martock who acted for me is not around.What should I do?

    First contact HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a Martock conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am attracted to a couple of maisonettes in Martock which have approximately forty five years left on the leases. Should I regard a short lease as a deal breaker?

    There are no two ways about it. A leasehold apartment in Martock is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the salability of the premises. The majority of purchasers and lenders, leases with less than 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 property 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 Martock conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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.

    What advice can you give us when it comes to choosing a Martock conveyancing practice to deal with our lease extension?

    When appointing a property lawyer for your lease extension (regardless if they are a Martock conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Martock conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

    • How familiar is the firm with lease extension legislation?
  • If the firm is not ALEP accredited then why not?

    • Martock Leasehold Conveyancing - A selection of Queries Prior to buying

      What is the name of the managing agents? Best to be warned whether fixing the lift or some other significant cost is pending to be shared amongst the leasehold owners and may well dramatically increase the the maintenance charges or require a specific invoice. How many years remain on the lease?

    Other Topics

    Lease Extensions in Martock