Experts for Leasehold Conveyancing in Soham

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Leasehold conveyancing in Soham 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 Soham and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Sample questions relating to Soham leasehold conveyancing

I only have 72 years remaining on my flat in Soham. I now wish to extend my lease but my freeholder is absent. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have used your best endeavours to locate the landlord. On the whole an enquiry agent should be helpful to conduct investigations and to produce an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s disappearance and the application to the County Court covering Soham.

Estate agents have just been given the go-ahead to market my ground floor flat in Soham.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly maintenance charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should clear the service charge 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 management companies will not acknowledge the buyer unless 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've recently bought a leasehold flat in Soham. Do I have any liability for service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you offer any advice when it comes to choosing a Soham conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Soham conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Soham conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

  • If they are not ALEP accredited then why not?
  • Can they put you in touch with client in Soham who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in Soham from the point of view of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Soham can be avoided where you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers representatives.
    • The majority freeholders or Management Companies in Soham levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Soham.
  • 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? Soham leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord consenting to such works. If you dont have the paperwork to hand you should not contact the landlord without checking with your solicitor first.
  • If you hold a share in a the Management Company, you should ensure that you are holding the original share certificate. Obtaining a new share certificate can be a time consuming process and delays many a Soham home move. If a duplicate share is necessary, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 80 years. In the circumstances it is important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I invested in buying a 2 bed flat in Soham, conveyancing having been completed 2000. Can you work out an approximate cost of a lease extension? Equivalent flats in Soham with a long lease are worth £179,000. The ground rent is £60 invoiced every year. The lease terminates on 21st October 2089

    With only 64 years unexpired we estimate the premium for your lease extension to be between £17,100 and £19,800 plus plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Soham