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Examples of recent questions relating to leasehold conveyancing in Moulton

Expecting to exchange soon on a ground floor flat in Moulton. Conveyancing solicitors have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

  • How long the lease is You should be advised as what happens when the lease expires, 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, landlord
  • The physical extent of the demise. This will be the flat itself but could also include a roof space or cellar if appropriate.
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • You must be told what constitutes a Nuisance in the lease
  • Repair and maintenance of the flat
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? For a comprehensive list of information to be contained in your report on your leasehold property in Moulton please ask your lawyer in ahead of your conveyancing in Moulton

    • I have just started marketing my garden flat in Moulton.Conveyancing has not commenced but I have just had a yearly maintenance charge demand – what should I do?

    Your conveyancing lawyer is likely to suggest that you should pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

    I've found a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Moulton. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

    The majority of houses in Moulton are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Moulton in which case you should be looking for a Moulton conveyancing practitioner and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your solicitor will appraise you on the various issues.

    I am tempted by the attractive purchase price for a two apartments in Moulton both have about 50 years remaining on the lease term. Do I need to be concerned?

    A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the value of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena

    Can you provide any top tips for leasehold conveyancing in Moulton from the perspective of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Moulton can be avoided if you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the buyers solicitors.
    • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Moulton state that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. Where you dont have the paperwork in place you should not contact the landlord without checking with your lawyer in advance.
  • A minority of Moulton leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand 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 solicitors.
  • If you hold a share in a the Management Company, you should ensure that you have the original share certificate. Organising a duplicate share certificate is often a lengthy formality and slows down many a Moulton home move. If a reissued share certificate is required, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.
  • You believe that you know the number of years left on your lease but it would be wise to double-check by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is less than 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Leasehold Conveyancing in Moulton - Sample of Questions you should ask before buying

      How many years remain on the lease? It is important to be aware whether fixing the lift or some other major work is anticipated to be shared between the tenants and will materially increase the the maintenance costs or require a one off invoice. Are any of leasehold owners in arrears of their service charge liability?

    Other Topics

    Lease Extensions in Moulton