Having had my offer accepted I require leasehold conveyancing in Sawbridgeworth. Before I get started I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Sawbridgeworth - then the leasehold title will always include the short particulars 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.

There are only 62 years unexpired on my flat in Sawbridgeworth. I am keen to get lease extension but my freeholder is missing. What are my options?

On the basis that 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 granted an extra 90 years by the magistrate. However, you will be required to prove that you have made all reasonable attempts to track down the freeholder. On the whole an enquiry agent should be useful to conduct investigations and to produce an expert document to be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the vesting order request to the County Court covering Sawbridgeworth.

Planning to sign contracts shortly on a studio apartment in Sawbridgeworth. Conveyancing solicitors assured me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

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

• Defining your legal entitlements in relation to the communal areas in the building.For instance, does the lease permit a right of way over a path or staircase?

I am looking at a two flats in Sawbridgeworth both have approximately forty five years left on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in Sawbridgeworth is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. For most purchasers and lenders, leases with less than eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 a residence 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 Sawbridgeworth conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 any new 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.

All being well we will complete the disposal of our £500000 garden flat in Sawbridgeworth next Thursday . The landlords agents has quoted £300 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Sawbridgeworth?

Sawbridgeworth conveyancing on leasehold flats usually requires the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to address such questions most will be content to assist. They are entitled levy a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some situations it exceeds £800. The management information fee required by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, without which the invoice is not strictly payable. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

Sawbridgeworth Conveyancing for Leasehold Flats - A selection of Queries before buying

Generally speaking the cost for major works are not included within service charges, although a few managing agents in Sawbridgeworth ask leaseholders to pay into a sinking fund and this is used to offset against major works. Where a Sawbridgeworth lease has fewer than eighty years it will impact the salability of the flat. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. A short lease means that you will most likely require a lease extension at some point and you need to have some idea of what this would cost. For most Sawbridgeworthlease extensions you will be be obliged to have owned the residence for 24 months in order to be eligible to extend the lease. Most Sawbridgeworth leasehold properties will incur a service charge for the upkeep of the building set by the management company. Should you purchase the apartment you will have to meet this liability, normally in instalments during the year. This can vary from a few hundred pounds to thousands of pounds for buildings with lifts and large communal areas. In all probability there will be a rentcharge for you to pay annual, ordinarily this is not a large figure, say approximately £25-£75 but you need to enquire as on occasion it could be surprisingly expensive.

Other Topics

Lease Extensions in Sawbridgeworth