Leasehold Conveyancing in Peterston Super Ely - Get a Quote from the leasehold experts approved by your lender

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Leasehold conveyancing in Peterston Super Ely is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Peterston Super Ely and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Frequently asked questions relating to Peterston Super Ely leasehold conveyancing

There are only 68 years left on my lease in Peterston Super Ely. I now wish to extend my lease but my freeholder is absent. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to prove that you or your lawyers have made all reasonable attempts to locate the landlord. In some cases an enquiry agent should be helpful to try and locate and to produce a report which can be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the application to the County Court overseeing Peterston Super Ely.

Back In 2005, I bought a leasehold house in Peterston Super Ely. Conveyancing and Bank of Ireland mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Peterston Super Ely who previously acted has long since retired.Any advice?

The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Peterston Super Ely conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. 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've recently bought a leasehold property in Peterston Super Ely. Do I have any liability for service charges for periods before completion of my purchase?

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 advice for leasehold conveyancing in Peterston Super Ely with the aim of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Peterston Super Ely can be reduced if you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold information which will be required by the buyers conveyancers.
  • The majority freeholders or Management Companies in Peterston Super Ely levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Peterston Super Ely.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Peterston Super Ely leases often stipulate that internal structural alterations or laying down wooden flooring require a licence from the Landlord approving such changes. Where you fail to have the paperwork to hand you should not communicate with the landlord without checking with your solicitor before hand.
  • A minority of Peterston Super Ely leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 buyers or their lawyers.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share certificate. Arranging a replacement share certificate can be a lengthy process and slows down many a Peterston Super Ely home move. If a duplicate share is needed, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.

    • When it comes to leasehold conveyancing in Peterston Super Ely what are the most frequent lease defects?

    There is nothing unique about leasehold conveyancing in Peterston Super Ely. Most leases is drafted differently and drafting errors can sometimes mean that certain sections 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 elements of the premises
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Chelsea Building Society, and TSB all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.

    Peterston Super Ely Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to buying

      What restrictions are there in the Peterston Super Ely Lease? This information is helpful as a) areas can cause problems for the block as the communal areas may start to deteriorate if repairs are not paid for b) if the leasehold owners have an issue with the running of the building you will wish to have all the details In the main the outlay for major works are not built into the maintenance charges, although a few managing agents in Peterston Super Ely ask leaseholders to pay into a reserve fund and this is used to offset against larger repairs or maintenance.

    Other Topics

    Lease Extensions in Peterston Super Ely