Fixed-fee leasehold conveyancing in Mulbarton:

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Frequently asked questions relating to Mulbarton leasehold conveyancing

Planning to sign contracts shortly on a basement flat in Mulbarton. Conveyancing solicitors inform me that they are sending me a report next week. What should I be looking out for?

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

  • You should be sent a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Whether your lease has a provision for a sinking fund?
  • Changes to the flat (alterations and additions)
  • Responsibility for repairing the window frames
  • What you can do if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Mulbarton please enquire of your conveyancer in ahead of your conveyancing in Mulbarton

    • Estate agents have just been given the go-ahead to market my garden flat in Mulbarton.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge demand – what should I do?

    It best that you pay the invoice 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 managing agents will not acknowledge the buyer until 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.

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

    If you are instructing a solicitor for your lease extension (regardless if they are a Mulbarton conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Mulbarton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

    • How many lease extensions has the firm completed in Mulbarton in the last twenty four months?
  • Can they put you in touch with client in Mulbarton who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Mulbarton with the purpose of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Mulbarton can be reduced if you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information which will be required by the purchasers’ conveyancers.
    • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Mulbarton leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord approving such changes. Where you dont have the approvals in place do not contact the landlord without contacting your solicitor first.
  • A minority of Mulbarton 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 obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet 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 solicitors.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or resolve 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 will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved.
  • If you are supposed to have a share in the freehold, you should ensure that you are holding the original share certificate. Arranging a re-issued share certificate is often a time consuming formality and frustrates many a Mulbarton conveyancing deal. Where a reissued share certificate is necessary, do contact the company officers or managing agents (if relevant) for this sooner rather than later.

    • Are there frequently found defects that you encounter in leases for Mulbarton properties?

    There is nothing unique about leasehold conveyancing in Mulbarton. Most leases are individual and drafting errors can result in certain clauses 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 premises
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Skipton Building Society, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.

    Leasehold Conveyancing in Mulbarton - A selection of Questions you should ask before Purchasing

      The prefered form of lease arrangement is a share of the freehold. In this situation the leaseholders have control and although a managing agent is often employed where the building is bigger than a house conversion, the managing agent is directed by the tenants. What restrictions are contained in the Mulbarton Lease? It would be wise to discover as much as you can about the company managing the block as they can either make your living at the property much easier or problematic. As the owner of a leasehold property you are often 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. Don't be shy to ask other people whether they are happy with their service. On a final note, investigate as to the dates that you are obliged pay the service charge to the managing agents and specifically what it includes.

    Other Topics

    Lease Extensions in Mulbarton