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Leasehold conveyancing in Silverton is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Silverton and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Frequently asked questions relating to Silverton leasehold conveyancing

I am in need of some leasehold conveyancing in Silverton. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is registered - and 99.9% are in Silverton - 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.

There are only Sixty One years left on my lease in Silverton. I now want to extend my lease but my landlord is missing. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to track down the lessor. In some cases a specialist should be useful to carry out a search and to produce a report to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Silverton.

What are your top tips when it comes to choosing a Silverton conveyancing practice to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Silverton conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Silverton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • How familiar is the practice with lease extension legislation?
  • Can they put you in touch with client in Silverton who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in Silverton with the aim of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Silverton can be avoided where you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation needed by the buyers conveyancers.
    • If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Silverton state that internal structural changes or installing wooden flooring require a licence from the Landlord consenting to such changes. Where you dont have the paperwork in place you should not contact the landlord without contacting your conveyancer before hand.
  • Some Silverton leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents 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 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 solicitors.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Obtaining a new share certificate can be a lengthy formality and slows down many a Silverton home move. Where a new share certificate is required, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your solicitors. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 75 years. It is therefore important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • What makes a Silverton lease defective?

    There is nothing unique about leasehold conveyancing in Silverton. Most leases is drafted differently and legal mistakes in the legal wording can result in certain sections are erroneous. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the building
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    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. Halifax, The Mortgage Works, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.

    Silverton Leasehold Conveyancing - A selection of Questions you should consider before Purchasing

      Who takes charge for maintaining and repairing the block? The prefered form of lease arrangement is if the freehold interest is owned by the leaseholders. In this situation the leaseholders enjoy being in charge if their destiny and even though a managing agent is often employed if it is bigger than a house conversion, the managing agent acts for the leaseholders themselves. If a Silverton lease has no more than 80 years it will affect the marketability of the flat. Check with your bank that they are willing to lend given the lease term. A short lease means that you will probably have to extend the lease at some point and you need to have some idea of what this would cost. Remember, in most cases you would need to own the property for two years before you are legally able to exercise a lease extension.

    Other Topics

    Lease Extensions in Silverton