Experts for Leasehold Conveyancing in Muxton

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When it comes to leasehold conveyancing in Muxton, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Santander, Birmingham Midshires or Nationwide be sure to find a lawyer on their approved list. Feel free to use our search tool

Common questions relating to Muxton leasehold conveyancing

Back In 2008, I bought a leasehold house in Muxton. Conveyancing and Britannia mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Muxton who acted for me is not around.What should I do?

First contact HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to instruct a Muxton 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 rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

What are your top tips when it comes to appointing a Muxton conveyancing firm to carry out our lease extension conveyancing?

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

  • How many lease extensions has the firm conducted in Muxton in the last 12 months?
  • Can they put you in touch with client in Muxton who can give a testimonial?

    • Do you have any advice for leasehold conveyancing in Muxton from the point of view of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Muxton can be bypassed where you instruct lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the buyers conveyancers.
    • The majority landlords or managing agents in Muxton levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Muxton.
  • If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as over as opposed to unsettled.
  • If you are supposed to have a share in the freehold, you should ensure that you hold the original share document. Arranging a new share certificate is often a time consuming formality and frustrates many a Muxton conveyancing deal. Where a duplicate share certificate is required, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your lawyers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 75 years. It is therefore 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 our sale of a £500000 maisonette in Muxton on Tuesday in a week. The managing agents has quoted £408 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Muxton?

    Muxton conveyancing on leasehold apartments normally necessitates the purchaser’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions most will be willing to assist. They are entitled charge a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge levied by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. Reality however dictates that one has no option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

    What makes a Muxton lease defective?

    Leasehold conveyancing in Muxton is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the premises
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You will 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. Yorkshire Building Society, Bank of Scotland, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

    I invested in buying a studio flat in Muxton, conveyancing having been completed 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Muxton with a long lease are worth £226,000. The ground rent is £45 per annum. The lease terminates on 21st October 2100

    You have 75 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 plus professional fees.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Muxton