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Shirenewton leasehold conveyancing Example Support Desk Enquiries

I am hoping to sign contracts shortly on a garden flat in Shirenewton. Conveyancing lawyers assured me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

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

  • You should be sent a copy of the lease
  • The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • Are you allowed to have a pet in the flat?
  • You must be told what constitutes a Nuisance in the lease
  • 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.
  • 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 details of the information to be contained in your report on your leasehold property in Shirenewton please enquire of your solicitor in ahead of your conveyancing in Shirenewton

    • I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Shirenewton. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

    Most houses in Shirenewton are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Shirenewton in which case you should be shopping around for a Shirenewton conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will advise you fully on all the issues.

    Back In 2005, I bought a leasehold flat in Shirenewton. Conveyancing and Barclays mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Shirenewton who acted for me is not around.Any advice?

    First contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Shirenewton conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am attracted to a two maisonettes in Shirenewton both have approximately forty five years left on the leases. Will this present a problem?

    There is no doubt about it. A leasehold flat in Shirenewton is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. The majority of purchasers and mortgage companies, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Shirenewton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

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

    • Much of the delay in leasehold conveyancing in Shirenewton can be bypassed where you instruct lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives.
    • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Shirenewton leases often stipulate that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Should you dont have the consents in place do not contact the landlord without contacting your lawyer in the first instance.
  • A minority of Shirenewton leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The 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 there is a history of any disputes with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and pay 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 are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unresolved.
  • If you hold a share in a the Management Company, you should make sure that you have the original share certificate. Organising a new share certificate is often a time consuming formality and slows down many a Shirenewton conveyancing transaction. If a new share is necessary, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.

    • Shirenewton Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing

      The answer will be useful as a) areas may cause problems in the building as the common areas may begin to deteriorate if services remain unpaid b) if the tenants have a dispute with the running of the building you will want to know about it Please note if it is less than eighty years it will affect the value of the apartment. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. A short lease means that you will most likely need a lease extension at some point and it is worth discovering what this will be. Remember, in most cases you would need to own the premises for 24 months before you are entitled to extend the lease. What is the name of the managing agents?

    Other Topics

    Lease Extensions in Shirenewton