Fixed-fee leasehold conveyancing in Pitstone:

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

Sample questions relating to Pitstone leasehold conveyancing

Expecting to complete next month on a leasehold property in Pitstone. Conveyancing solicitors have said that they report fully tomorrow. What should I be looking out for?

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

  • How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • Will you be prohibited or prevented from having pets in the property?
  • 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
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? For a comprehensive list of information to be included in your report on your leasehold property in Pitstone please enquire of your lawyer in advance of your conveyancing in Pitstone

    • Back In 2009, I bought a leasehold flat in Pitstone. Conveyancing and Alliance & Leicester mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Pitstone who acted for me is not around.What should I do?

    First make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Pitstone conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I am a negotiator for a long established estate agency in Pitstone where we see a few leasehold sales put at risk due to leases having less than 80 years remaining. I have received contradictory information from local Pitstone conveyancing firms. Could you shed some light as to whether the vendor of a flat can commence the lease extension formalities for the buyer?

    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. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

    Alternatively, it may be possible 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.

    What advice can you give us when it comes to choosing a Pitstone conveyancing firm to deal with our lease extension?

    When appointing a property lawyer for your lease extension (regardless if they are a Pitstone conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Pitstone conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

    • Can they put you in touch with client in Pitstone who can give a testimonial?
  • What are the costs for lease extension work?

    • What are the frequently found problems that you encounter in leases for Pitstone properties?

    Leasehold conveyancing in Pitstone is not unique. Most leases are individual and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the premises
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Norwich and Peterborough Building Society, and TSB all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.

    I purchased a studio flat in Pitstone, conveyancing having been completed 2001. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Pitstone with a long lease are worth £194,000. The ground rent is £55 per annum. The lease ceases on 21st October 2103

    With only 78 years remaining on your lease we estimate the price of your lease extension to span between £11,400 and £13,200 plus legals.

    The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Pitstone