Quality lawyers for Leasehold Conveyancing in Maulden

Get a Quote

Leasehold conveyancing in Maulden is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Maulden and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Maulden leasehold conveyancing Example Support Desk Enquiries

I am in need of some leasehold conveyancing in Maulden. Before diving in I want to be sure as to the unexpired term of the lease.

If the lease is registered - and almost all are in Maulden - 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 today plan to offer on a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Maulden. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Maulden ?

The majority of houses in Maulden are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Maulden in which case you should be looking for a Maulden conveyancing practitioner and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your solicitor should advise you fully on all the issues.

My wife and I purchased a leasehold flat in Maulden. Conveyancing and The Royal Bank of Scotland mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Maulden who previously acted has long since retired.Do I pay?

First make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Maulden conveyancing practitioner to do this as you can do this on the Land Registry website 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.

Do you have any top tips for leasehold conveyancing in Maulden from the point of view of expediting the sale process?

  • Much of the frustration in leasehold conveyancing in Maulden can be avoided where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the buyers conveyancers.
  • The majority landlords or Management Companies in Maulden levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Maulden.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Maulden state that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord consenting to such works. Where you dont have the consents in place do not contact the landlord without contacting your lawyer first.
  • A minority of Maulden leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any 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 purchasers or their lawyers.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is below 80 years. In the circumstances it is 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 home on the market for sale.

    • What makes a Maulden lease unmortgageable?

    There is nothing unique about leasehold conveyancing in Maulden. All leases are individual and drafting errors can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the building
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You may encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Skipton Building Society, and Godiva Mortgages Ltd all have very detailed 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 provide security, obliging the purchaser to pull out.

    I bought a 1st floor flat in Maulden, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Maulden with over 90 years remaining are worth £221,000. The average or mid-range amount of ground rent is £50 per annum. The lease ends on 21st October 2105

    With only 80 years remaining on your lease we estimate the premium for your lease extension to span between £10,500 and £12,000 plus professional fees.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Maulden