Fixed-fee leasehold conveyancing in Shenfield:

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Shenfield leasehold conveyancing Example Support Desk Enquiries

Planning to complete next month on a ground floor flat in Shenfield. Conveyancing solicitors assured me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Shenfield should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Setting out your legal entitlements in relation to common areas in the building.By way of example, does the lease provide for a right of way over an accessway or staircase?
  • Does the lease prohibit wood flooring?
  • 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
  • Whether your lease has a provision for a reserve fund?
  • 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.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? For details of the information to be contained in your report on your leasehold property in Shenfield please enquire of your lawyer in advance of your conveyancing in Shenfield

    • I have just appointed agents to market my 2 bed flat in Shenfield.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge invoice – what should I do?

    It best that you pay the invoice 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 managing agents will not acknowledge the buyer until 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 am tempted by the attractive purchase price for a two flats in Shenfield which have in the region of 50 years unexpired on the leases. Will this present a problem?

    A lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the value of the lease deteriorate and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field

    I am employed by a long established estate agent office in Shenfield where we see a few leasehold sales jeopardised due to short leases. I have received contradictory information from local Shenfield conveyancing firms. Please can you shed some light as to whether the seller of a flat can commence the lease extension formalities for the buyer?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

    An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

    What advice can you give us when it comes to finding a Shenfield conveyancing firm to deal with our lease extension?

    If you are instructing a conveyancer for lease extension works (regardless if they are a Shenfield conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Shenfield conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

    • How familiar is the firm with lease extension legislation?
  • If the firm is not ALEP accredited then why not?

    • Shenfield Leasehold Conveyancing - Examples of Questions you should consider before buying

      Are there any major works in the planning that could increase the service costs? The best form of lease arrangement is if the freehold reversion is in the ownership of the leaseholders. In this situation the tenants enjoy being in charge if their destiny and although a managing agent is frequently retained where it is bigger than a house conversion, the managing agent is directed by the tenants. Where a Shenfield lease has less than eighty years it will have adverse implications on the value of the flat. It is worth checking with your mortgage company that they are willing to go ahead with the loan given the lease term. A short lease means that you will almost definitely require a lease extension at some point and it is worth finding out how much this would cost. For most Shenfieldlease extensions you would need to own the premises for a couple of years before you are eligible to carry out a lease extension.

    Other Topics

    Lease Extensions in Shenfield