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

Any conveyancing practice can theoretically deal with your leasehold conveyancing in Newton Ferrers, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Frequently asked questions relating to Newton Ferrers leasehold conveyancing

I want to rent out my leasehold flat in Newton Ferrers. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

A small minority of properties in Newton Ferrers do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

You should [be sent a copy of the lease|receive a copy of the lease]

Planning to sign contracts shortly on a basement flat in Newton Ferrers. Conveyancing solicitors assured me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

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

  • Does the lease prohibit wood flooring?
  • Are you allowed to have a pet in the flat?
  • 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
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
For a comprehensive list of information to be included in your report on your leasehold property in Newton Ferrers please enquire of your conveyancer in ahead of your conveyancing in Newton Ferrers

I own a leasehold house in Newton Ferrers. Conveyancing and Godiva Mortgages Ltd mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Newton Ferrers who acted for me is not around.What should I do?

First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Newton Ferrers conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two flats in Newton Ferrers both have in the region of 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a period of time. As the lease gets shorter the saleability of the lease decreases and it becomes more expensive 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 lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena

I work for a reputable estate agency in Newton Ferrers where we have experienced a few leasehold sales derailed due to short leases. I have been given conflicting advice from local Newton Ferrers conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

An alternative approach is 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 purchaser.

Leasehold Conveyancing in Newton Ferrers - Sample of Queries before buying

    You should be aware if it is fewer than eighty years it will affect the value of the property. It is worth checking with your lender that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease at some point and you need to have some idea of how much this will be. For most Newton Ferrerslease extensions you would be required to have been the owner of the property for two years before you are eligible to extend the lease. Who are the managing agents? The best form of lease arrangement is where the freehold title is in the ownership of the leaseholders. In this scenario the tenants have being in charge if their destiny and although a managing agent is frequently retained if it is larger than a house conversion, the managing agent is directed by the tenants.