Guaranteed fixed fees for Leasehold Conveyancing in Mayfield

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Leasehold conveyancing in Mayfield 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 Mayfield and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Examples of recent questions relating to leasehold conveyancing in Mayfield

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Mayfield. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Mayfield ?

Most houses in Mayfield are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Mayfield so you should seriously consider looking for a Mayfield conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your lawyer will appraise you on the various issues.

I own a leasehold flat in Mayfield. Conveyancing and Bank of Ireland mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Mayfield who previously acted has long since retired.Any advice?

First contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Mayfield conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that in any event, 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 Mayfield where we have witnessed a number of leasehold sales derailed due to short leases. I have been given inconsistent advice from local Mayfield conveyancing firms. Can you shed some light as to whether the vendor of a flat can start the lease extension process for the buyer?

Provided that 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 can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 buyer.

Do you have any advice for leasehold conveyancing in Mayfield from the perspective of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Mayfield can be bypassed where you instruct lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
  • Many freeholders or Management Companies in Mayfield charge for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Mayfield.
  • If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Mayfield state that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord approving such alterations. Should you dont have the approvals in place do not contact the landlord without checking with your solicitor before hand.
  • Some Mayfield leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The 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 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 double-check by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is under 80 years. In the circumstances it is important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • All being well we will complete the sale of our £200000 maisonette in Mayfield in just under a week. The freeholder has quoted £384 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Mayfield?

    Mayfield conveyancing on leasehold maisonettes more often than not necessitates the buyer’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be willing to do so. They may invoice a reasonable charge 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 cases it is above £800. The administration charge invoiced by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the charge is technically not due. Reality however dictates that one has no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.

    Leasehold Conveyancing in Mayfield - Sample of Queries before buying

      How many of the leaseholders are in arrears for their maintenance charge payments? It would be wise to find out as much as possible concerning the company managing the block as they will either make life much simpler or uncomfortable. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to day to day matters like the upkeep of the communal areas. Enquire of prospective neighbours if they are happy with them. Finally, investigate as to the dates that the service fees are due to the managing agents and precisely what you get for your money. Are there any major works in the planning that will increase the maintenance costs?

    Other Topics

    Lease Extensions in Mayfield