Leasehold Conveyancing in Sandbanks - Get a Quote from the leasehold experts approved by your lender

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Leasehold conveyancing in Sandbanks 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 Sandbanks and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Sample questions relating to Sandbanks leasehold conveyancing

I am hoping to exchange soon on a leasehold property in Sandbanks. Conveyancing lawyers inform me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Sandbanks should include some of the following:

  • You should be sent a copy of the lease
  • Does the lease prevent you from subletting the flat, or having a home office for business
  • You should be told what constitutes a Nuisance in the lease
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • 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 the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Sandbanks please enquire of your lawyer in ahead of your conveyancing in Sandbanks

    • I've recently bought a leasehold property in Sandbanks. Am I liable to pay service charges relating to a period prior to my ownership?

    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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).

    I work for a reputable estate agency in Sandbanks where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received contradictory information from local Sandbanks conveyancing solicitors. Can you clarify whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

    Provided that the seller has been the owner 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 need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

    Alternatively, it may be possible 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.

    Do you have any top tips for leasehold conveyancing in Sandbanks with the aim of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Sandbanks can be avoided if you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold information which will be required by the buyers solicitors.
    • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Sandbanks state that internal structural changes or laying down wooden flooring require a licence issued by the Landlord approving such works. Should you fail to have the approvals to hand you should not contact the landlord without checking with your lawyer in advance.
  • If you have had conflict with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be warry about purchasing a flat where a dispute is unresolved. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than unresolved.
  • If you hold a share in a the Management Company, you should ensure that you hold the original share certificate. Obtaining a replacement share certificate can be a lengthy formality and slows down many a Sandbanks home move. Where a duplicate share is needed, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check by asking your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is under 80 years. It is therefore 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 property on the market for sale.

    • What makes a Sandbanks lease defective?

    Leasehold conveyancing in Sandbanks is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the premises
    • Insurance obligations
    • 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

    You could encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Virgin Money, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.

    Sandbanks Leasehold Conveyancing - Examples of Questions you should ask Prior to Purchasing

      How many of the leaseholders are in arrears for their service charge payments? The answer will be helpful as a) areas could result in problems in the block as the communal areas may begin to deteriorate where services are not paid for b) if the tenants have a dispute with the managing agents you will need to know about it How much is the yearly service fee and ground rent?

    Other Topics

    Lease Extensions in Sandbanks