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Recently asked questions relating to Sharnbrook leasehold conveyancing

Looking forward to exchange soon on a basement flat in Sharnbrook. Conveyancing lawyers inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

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

  • How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The physical extent of the property. This will be the apartment itself but could also incorporate a loft or basement if applicable.
  • Setting out your legal entitlements in respect of common areas in the block.For instance, does the lease provide for a right of way over a path or hallways?
  • Are pets allowed in 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?
  • 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 For a comprehensive list of information to be included in your report on your leasehold property in Sharnbrook please ask your conveyancer in advance of your conveyancing in Sharnbrook

    • Back In 2005, I bought a leasehold house in Sharnbrook. Conveyancing and Leeds Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Sharnbrook who acted for me is not around.Do I pay?

    First contact the Land Registry to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Sharnbrook conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Can you provide any top tips for leasehold conveyancing in Sharnbrook with the intention of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Sharnbrook can be bypassed where you appoint lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the purchasers’ conveyancers.
    • The majority landlords or Management Companies in Sharnbrook charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Sharnbrook.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Sharnbrook state that internal structural alterations or addition of wooden flooring require a licence from the Landlord acquiescing to such works. Should you dont have the approvals in place do not contact the landlord without contacting your solicitor in advance.
  • A minority of Sharnbrook 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. The bank reference should make it clear that the buyer is able to meet the annual 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Arranging a new share certificate is often a lengthy process and slows down many a Sharnbrook home move. Where a new share is required, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible.

    • Completion in due on the sale of our £400000 garden flat in Sharnbrook on Friday in a week. The freeholder has quoted £396 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Sharnbrook?

    Sharnbrook conveyancing on leasehold maisonettes more often than not necessitates the buyer’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be willing to assist. They are at liberty charge a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The administration charge demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, otherwise the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to sell the property.

    In relation to leasehold conveyancing in Sharnbrook what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in Sharnbrook. All leases are individual and drafting errors can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the premises
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Norwich and Peterborough Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to pull out.

    I am the registered owner of a 1st floor flat in Sharnbrook, conveyancing formalities finalised 1995. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Sharnbrook with a long lease are worth £226,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ceases on 21st October 2092

    With only 67 years left to run the likely cost is going to span between £10,500 and £12,000 plus legals.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.

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