Guaranteed fixed fees for Leasehold Conveyancing in Shenfield

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Any conveyancing practice can theoretically handle your leasehold conveyancing in Shenfield, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Common questions relating to Shenfield leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Shenfield. Before I get started I require certainty as to the number of years remaining on the lease.

If the lease is registered - and 99.9% are in Shenfield - 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 am looking at a couple of flats in Shenfield both have about fifty years unexpired on the leases. Do I need to be concerned?

There are plenty of short leases in Shenfield. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this field

Do you have any advice for leasehold conveyancing in Shenfield with the intention of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Shenfield can be reduced where you instruct lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information which will be required by the buyers representatives.
  • The majority freeholders or managing agents in Shenfield levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Shenfield.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Shenfield state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. If you dont have the consents in place do not contact the landlord without checking with your lawyer in the first instance.
  • Some Shenfield leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to 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 over rather than unresolved.

    • Completion in due on our sale of a £125000 flat in Shenfield in just under a week. The managing agents has quoted £348 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Shenfield?

    Shenfield conveyancing on leasehold apartments usually requires the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to address such questions most will be willing to assist. They may invoice a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee invoiced by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, otherwise the invoice is technically not due. Reality however dictates that one has no option but to pay whatever is demanded should you wish to complete the sale of your home.

    What makes a Shenfield lease unmortgageable?

    There is nothing unique about leasehold conveyancing in Shenfield. All leases are unique and legal mistakes in the legal wording can result in certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Skipton Building Society, and Godiva Mortgages Ltd 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 defective they may refuse to provide security, forcing the purchaser to withdraw.

    I purchased a leasehold flat in Shenfield, conveyancing having been completed 5 years ago. 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? Similar properties in Shenfield with over 90 years remaining are worth £232,000. The ground rent is £55 invoiced every year. The lease comes to an end on 21st October 2074

    You have 51 years unexpired we estimate the price of your lease extension to span between £39,000 and £45,000 plus legals.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Shenfield