Top Five Questions relating to Shefford leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Shefford. Before I set the wheels in motion I would like to find out the remaining lease term.
Assuming the lease is recorded at the land registry - and almost all are in Shefford - 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.
I have recently realised that I have Seventy years unexpired on my flat in Shefford. I am keen to extend my lease but my freeholder is can not be found. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to prove that you have used your best endeavours to locate the lessor. For most situations an enquiry agent should be useful to try and locate and prepare a report which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court covering Shefford.
I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Shefford. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Shefford ?
The majority of houses in Shefford are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Shefford so you should seriously consider looking for a Shefford conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer will appraise you on the various issues.
Can you provide any advice for leasehold conveyancing in Shefford with the intention of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Shefford can be avoided if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ representatives.
- If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Shefford state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. Should you dont have the approvals to hand you should not communicate with the landlord without contacting your lawyer before hand.
Completion in due on the sale of our £425000 garden flat in Shefford next Thursday . The management company has quoted £312 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Shefford?
For most leasehold sales in Shefford conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-contract questions
- Where consent is required before sale in Shefford
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I invested in buying a studio flat in Shefford, conveyancing having been completed 6 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Shefford with an extended lease are worth £235,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease comes to an end on 21st October 2085
With only 64 years remaining on your lease the likely cost is going to range between £16,200 and £18,600 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.