Experts for Leasehold Conveyancing in Pitsea

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While any conveyancing practice can theoretically handle your leasehold conveyancing in Pitsea, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Pitsea leasehold conveyancing: Q and A’s

I am in need of some leasehold conveyancing in Pitsea. Before diving in I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Pitsea - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Planning to sign contracts shortly on a garden flat in Pitsea. Conveyancing solicitors assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

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

  • You should receive a copy of the lease
  • Does the lease prohibit wood flooring?
  • You need to be told what counts as a Nuisance in the lease
  • Whether your lease has a provision for a sinking fund?
  • 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
  • What options are open to you if a neighbour breach a clause of their lease?
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Pitsea please enquire of your conveyancer in ahead of your conveyancing in Pitsea

    • Back In 2002, I bought a leasehold house in Pitsea. Conveyancing and Leeds 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 1992. The conveyancing solicitor in Pitsea who previously acted has long since retired.Do I pay?

    First make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. There is no need to instruct a Pitsea conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am looking at a couple of maisonettes in Pitsea which have about 50 years unexpired on the lease term. Do I need to be concerned?

    There are no two ways about it. A leasehold apartment in Pitsea is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. The majority of purchasers and lenders, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Pitsea conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

    Can you provide any top tips for leasehold conveyancing in Pitsea with the intention of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Pitsea can be reduced where you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the purchasers’ representatives.
    • The majority freeholders or Management Companies in Pitsea charge for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Pitsea.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Pitsea leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord consenting to such works. Should you dont have the consents in place you should not contact the landlord without checking with your solicitor in the first instance.
  • If you hold a share in a the freehold, you should ensure that you hold the original share document. Organising a replacement share certificate is often a lengthy process and slows down many a Pitsea home move. Where a new share is necessary, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • Pitsea Leasehold Conveyancing - Sample of Questions you should ask before Purchasing

      Best to be warned whether window replacement or some other major work is anticipated to be shared between the leaseholders and will dramatically increase the the service charges or result in a specific payment. How is the lease structured? Where a Pitsea lease has no more than eighty years it will impact the salability of the flat. Check with your mortgage company that they are willing to lend given the lease term. A short lease means that you will most likely require a lease extension sooner rather than later and you need to have some idea of how much this would cost. For most Pitsealease extensions you would need to own the residence for 24 months in order to be entitled to exercise a lease extension.

    Other Topics

    Lease Extensions in Pitsea