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

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Top Five Questions relating to Melbourn leasehold conveyancing

Having checked my lease I have discovered that there are only 68 years remaining on my flat in Melbourn. I now wish to extend my lease but my freeholder is absent. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to find the landlord. On the whole an enquiry agent would be useful to carry out a search and prepare an expert document to be used as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on devolving into the landlord’s absence and the application to the County Court covering Melbourn.

Due to complete next month on a ground floor flat in Melbourn. Conveyancing lawyers inform me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

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

  • You should be sent a copy of the lease
  • The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Will you be prohibited or prevented from having pets in the property?
  • You must 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 For details of the information to be included in your report on your leasehold property in Melbourn please ask your solicitor in ahead of your conveyancing in Melbourn

  • I am tempted by the attractive purchase price for a couple of flats in Melbourn both have about fifty years remaining on the leases. Do I need to be concerned?

    There are no two ways about it. A leasehold flat in Melbourn is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most purchasers and mortgage companies, leases with under 75 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 premises 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 premises 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 Melbourn 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 the agreed 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.

    I've recently bought a leasehold property in Melbourn. Do I have any liability for service charges for periods before my ownership?

    Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    What advice can you give us when it comes to finding a Melbourn conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a conveyancer for lease extension works (regardless if they are a Melbourn conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Melbourn 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 of use:

    • Can they put you in touch with client in Melbourn who can give a testimonial?
  • What are the legal fees for lease extension conveyancing?

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

      It is important to be aware if a new roof is being put on or some other significant cost is coming up to be shared by the leasehold owners and will materially impact the level of the maintenance fees or result in a specific invoice. Who are the managing agents? Most Melbourn leasehold properties will incur a service charge for maintenance of the block set on behalf of the freeholder. If you buy the apartment you will have to pay this amount, usually periodically throughout the year. This could vary from two or three hundred pounds to thousands of pounds for buildings with lifts and large common grounds. In all likelihood there will be a rentcharge to be met annual, this is usually not a significant sum, say approximately £25-£75 but you should to enquire as on occasion it can be prohibitively expensive.

    Other Topics

    Lease Extensions in Melbourn