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

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When it comes to leasehold conveyancing in Sawtry, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Halifax, Yorkshire Building Society or Bradford & Bingley be sure to find a lawyer on their panel. Feel free to use our search tool

Questions and Answers: Sawtry leasehold conveyancing

Looking forward to exchange soon on a leasehold property in Sawtry. Conveyancing solicitors assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • 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
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Responsibility for repairing the window frames
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Sawtry please enquire of your solicitor in advance of your conveyancing in Sawtry

    • I have just started marketing my ground floor apartment in Sawtry.Conveyancing has not commenced but I have just had a half-yearly maintenance charge demand – what should I do?

    It best that you pay 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 unless 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 recently bought a leasehold flat in Sawtry. 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 owner and they have not paid you would not usually be personally liable for the arrears. However, 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).

    What are your top tips when it comes to appointing a Sawtry conveyancing practice to deal with our lease extension?

    If you are instructing a property lawyer for your lease extension (regardless if they are a Sawtry conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Sawtry conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

    • How experienced is the practice with lease extension legislation?
  • What are the costs for lease extension conveyancing?

    • Can you provide any advice for leasehold conveyancing in Sawtry from the perspective of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Sawtry can be bypassed if you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the purchasers’ lawyers.
    • The majority freeholders or Management Companies in Sawtry charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Sawtry.
  • Some Sawtry leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have had conflict with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than unresolved.
  • You believe that you know the number of years left on your lease but it would be wise to verify this by asking your solicitors. A purchaser's conveyancer 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 essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Leasehold Conveyancing in Sawtry - Sample of Queries before buying

      What is the name of the managing agents? The prefered form of lease structure is a share of the freehold. In this arrangement the tenants enjoy control and although a managing agent is often employed where the building is larger than a house conversion, the managing agent retained by the leaseholders. How much is the yearly service fee and ground rent?

    Other Topics

    Lease Extensions in Sawtry