Fixed-fee leasehold conveyancing in Midhurst:

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

Common questions relating to Midhurst leasehold conveyancing

Back In 2006, I bought a leasehold flat in Midhurst. Conveyancing and Barclays mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Midhurst who previously acted has now retired.Do I pay?

First make enquiries of HMLR to be sure that this person is in fact the new freeholder. You do not need to incur the fees of a Midhurst conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am a negotiator for a long established estate agency in Midhurst where we see a number of flat sales put at risk due to short leases. I have received contradictory information from local Midhurst conveyancing firms. Please can you clarify whether the vendor of a flat can commence the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to 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 prior to, or at the same time as 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.

What advice can you give us when it comes to appointing a Midhurst conveyancing firm to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Midhurst conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Midhurst conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

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

    • Do you have any advice for leasehold conveyancing in Midhurst with the purpose of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Midhurst can be bypassed if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the buyers representatives.
    • The majority freeholders or Management Companies in Midhurst charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Midhurst.
  • If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Midhurst state that internal structural changes or installing wooden flooring require a licence issued by the Landlord acquiescing to such works. If you dont have the approvals to hand do not communicate with the landlord without contacting your lawyer in the first instance.
  • If you have had conflict with your landlord or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than unsettled.
  • If you hold a share in a the Management Company, you should ensure that you have the original share document. Arranging a new share certificate is often a lengthy formality and slows down many a Midhurst home move. Where a duplicate share certificate is needed, do contact the company director and secretary or managing agents (where relevant) for this as soon as possible.

    • What makes a Midhurst lease problematic?

    There is nothing unique about leasehold conveyancing in Midhurst. All leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations 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

    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. Santander, Barnsley Building Society, and Barclays Direct all have express conveyancing instructions 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, forcing the purchaser to pull out.

    I own a 2 bed flat in Midhurst, conveyancing formalities finalised 5 years ago. How much will my lease extension cost? Equivalent flats in Midhurst with over 90 years remaining are worth £170,000. The ground rent is £55 invoiced annually. The lease ends on 21st October 2099

    With just 73 years remaining on your lease we estimate the premium for your lease extension to be between £7,600 and £8,800 as well as legals.

    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 due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Midhurst