Leasehold Conveyancing in Maulden - Get a Quote from the leasehold experts approved by your lender

While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Maulden, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Sample questions relating to Maulden leasehold conveyancing

Frank (my husband) and I may need to let out our Maulden basement flat temporarily due to a new job. We used a Maulden conveyancing practice in 2003 but they have closed and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

A lease dictates relations between the landlord and you the leaseholder; in particular, it will set out if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Maulden do not prevent subletting altogether – such a clause would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

Expecting to sign contracts shortly on a basement flat in Maulden. Conveyancing lawyers have said that they are sending me a report on Monday. What should I be looking out for?

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

  • You should be sent a copy of the lease
  • Defining your legal entitlements in respect of common areas in the block.By way of example, does the lease grant a right of way over an accessway or staircase?
  • Does the lease prevent you from subletting the flat, or having a home office for business
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • 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
  • Repair and maintenance of the flat
  • 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 For a comprehensive list of information to be contained in your report on your leasehold property in Maulden please ask your conveyancer in ahead of your conveyancing in Maulden

  • I am tempted by the attractive purchase price for a two maisonettes in Maulden both have about fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

    A lease is a right to use the premises for a period of time. As a lease shortens the marketability of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this area

    Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £400000 maisonette in Maulden on Tuesday in a week. The freeholder has quoted £372 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Maulden?

    Maulden conveyancing on leasehold flats usually requires the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be content to assist. They are entitled charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some situations it is above £800. The administration charge levied by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, without which the charge is not strictly payable. In reality one has little choice but to pay whatever is requested of you if you want to sell the property.

    When it comes to leasehold conveyancing in Maulden what are the most common lease problems?

    Leasehold conveyancing in Maulden is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Chelsea Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.

    I own a 2 bed flat in Maulden, conveyancing having been completed 10 years ago. How much will my lease extension cost? Equivalent flats in Maulden with over 90 years remaining are worth £212,000. The average or mid-range amount of ground rent is £65 levied per year. The lease comes to an end on 21st October 2093

    You have 71 years remaining on your lease we estimate the price of your lease extension to be between £12,400 and £14,200 plus costs.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Maulden