Fixed-fee leasehold conveyancing in Matlock:

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Matlock leasehold conveyancing: Q and A’s

Expecting to complete next month on a garden flat in Matlock. Conveyancing lawyers assured me that they are sending me a report next week. Are there areas in the report that I should be focusing on?

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

  • You should receive a copy of the lease
  • The total extent of the demise. This will be the property itself but could also incorporate a roof space or basement if applicable.
  • You need to be told what counts as a Nuisance in the lease
  • 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
  • You should have a good understanding of the insurance provisions
  • 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.
  • What options are open to you if a neighbour breach a clause of their lease? For details of the information to be contained in your report on your leasehold property in Matlock please ask your conveyancer in ahead of your conveyancing in Matlock

    • I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently discovered that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Matlock. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Matlock ?

    The majority of houses in Matlock are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Matlock in which case you should be shopping around for a Matlock conveyancing practitioner and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your conveyancer should appraise you on the various issues.

    I own a leasehold flat in Matlock. Conveyancing and Lloyds TSB Bank mortgage organised. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Matlock who acted for me is not around.Do I pay?

    First make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Matlock conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am a negotiator for a long established estate agency in Matlock where we see a number of flat sales put at risk as a result of short leases. I have been given inconsistent advice from local Matlock conveyancing solicitors. Could you confirm whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

    As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have 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 at the same time as completion of the disposal of the property.

    An alternative approach is to agree the lease extension with the freeholder 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.

    Do you have any advice for leasehold conveyancing in Matlock with the aim of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Matlock can be bypassed if you instruct lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ lawyers.
    • Many freeholders or Management Companies in Matlock levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Matlock.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you laid down wooden flooring? Matlock leases often stipulate that internal structural alterations or laying down wooden flooring require a licence from the Landlord acquiescing to such works. Should you dont have the approvals in place you should not contact the landlord without checking with your lawyer in the first instance.
  • A minority of Matlock leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 lawyers.
  • If you hold a share in a the freehold, you should ensure that you have the original share certificate. Organising a replacement share certificate can be a time consuming process and frustrates many a Matlock conveyancing transaction. If a duplicate share certificate is required, do contact the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.

    • Leasehold Conveyancing in Matlock - Sample of Questions you should ask before Purchasing

      Is the freehold reversion owned collectively by the tenants? This question is useful as a) areas can result in problems in the building as the communal areas may begin to deteriorate if maintenance remain unpaid b) if the leasehold owners have a dispute with the managing agents you will need to have complete disclosure You should be aware that where the lease has less than 80 years it will affect the marketability of the apartment. Check with your mortgage company that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will most likely need a lease extension sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you will need to own the premises for 24 months before you are legally able to extend the lease.

    Other Topics

    Lease Extensions in Matlock