Fixed-fee leasehold conveyancing in Saffron Walden:

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

Common questions relating to Saffron Walden leasehold conveyancing

Having checked my lease I have discovered that there are only Fifty years left on my flat in Saffron Walden. I now want to get lease extension but my landlord is missing. What are my options?

If you qualify, 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 mean that your lease can be lengthened by the Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to track down the landlord. In some cases a specialist should be useful to conduct investigations and to produce an expert document which can be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s absence and the vesting order request to the County Court overseeing Saffron Walden.

Estate agents have just been given the go-ahead to market my basement apartment in Saffron Walden.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge demand – Do I pay up?

It best that you discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I've found a house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Saffron Walden. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

The majority of houses in Saffron Walden are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Saffron Walden in which case you should be looking for a Saffron Walden conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your conveyancer will appraise you on the various issues.

I am attracted to a two apartments in Saffron Walden both have in the region of 50 years left on the leases. Will this present a problem?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease reduces and results in it becoming more costly to extend the lease. This is why 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 companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area

I am employed by a reputable estate agency in Saffron Walden where we have witnessed a few leasehold sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Saffron Walden conveyancing firms. Please can you confirm whether the owner of a flat can start the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder 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.

Saffron Walden Leasehold Conveyancing - A selection of Queries before buying

    Who is in charge of the building? It would be sensible to discover if there is anything that is prohibited in the lease. For instance plenty of leases prohibit pets being permitted in in a block in Saffron Walden. If you like the propertyin Saffron Walden yet your dog can’t live with you then you have a very difficult decision. For many Saffron Walden leaseholds the cost for major works tend not to be included within service charges, although there some managing agents in Saffron Walden ask leasehold owners to pay into a reserve fund and this is used to offset against major works.

Other Topics

Lease Extensions in Saffron Walden