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While any conveyancing practice can theoretically deal with your leasehold conveyancing in Paddock Wood, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Paddock Wood leasehold conveyancing: Q and A’s

Looking forward to exchange soon on a leasehold property in Paddock Wood. Conveyancing solicitors assured me that they will have a report out to me on Monday. What should I be looking out for?

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

  • 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 property itself but could also incorporate a roof space or cellar if appropriate.
  • Whether your lease has a provision for a sinking fund?
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • 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 Paddock Wood please ask your conveyancer in ahead of your conveyancing in Paddock Wood

    • I own a leasehold house in Paddock Wood. Conveyancing and Nottingham Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Paddock Wood who previously acted has now retired.Do I pay?

    The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. There is no need to instruct a Paddock Wood conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that in any event, 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 looking at a two maisonettes in Paddock Wood which have in the region of 50 years remaining on the leases. Will this present a problem?

    A lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the marketability of the lease reduces and results in it becoming more costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this arena

    Last month I purchased a leasehold house in Paddock Wood. Am I liable to pay service charges for periods before completion of my purchase?

    In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    Can you provide any top tips for leasehold conveyancing in Paddock Wood from the point of view of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Paddock Wood can be reduced where you get in touch lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the purchasers’ lawyers.
    • Many landlords or Management Companies in Paddock Wood charge for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Paddock Wood.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Paddock Wood state that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord consenting to such changes. Where you dont have the approvals to hand you should not communicate with the landlord without contacting your conveyancer in the first instance.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and pay 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 ongoing.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Obtaining a replacement share certificate is often a lengthy process and frustrates many a Paddock Wood home move. Where a new share certificate is required, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.

    • Paddock Wood Leasehold Conveyancing - A selection of Questions you should consider before Purchasing

      How much is the maintenance charge and ground rent on the apartment? Best to be warned whether fixing the lift or some other significant cost is coming up that will be shared amongst the leasehold owners and may well materially increase the the maintenance charges or require a one time payment. Does the lease have more than 82 years unexpired?

    Other Topics

    Lease Extensions in Paddock Wood