Guaranteed fixed fees for Leasehold Conveyancing in South Woodham Ferrers

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Leasehold conveyancing in South Woodham Ferrers 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 South Woodham Ferrers and across 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 South Woodham Ferrers leasehold conveyancing

I have just started marketing my garden flat in South Woodham Ferrers.Conveyancing is yet to be initiated but I have just received a quarterly service charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should pay 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. This will smooth the conveyancing process.

I am tempted by the attractive purchase price for a couple of flats in South Woodham Ferrers both have about forty five years left on the lease term. should I be concerned?

There are plenty of short leases in South Woodham Ferrers. The lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the value of the lease decreases and it becomes more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this field

Can you offer any advice when it comes to finding a South Woodham Ferrers conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a South Woodham Ferrers conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non South Woodham Ferrers 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 useful:

  • If the firm is not ALEP accredited then what is the reason?
  • Can they put you in touch with client in South Woodham Ferrers who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in South Woodham Ferrers from the perspective of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in South Woodham Ferrers can be reduced where you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation needed by the buyers solicitors.
    • If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example laid down wooden flooring? South Woodham Ferrers leases often stipulate that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord approving such alterations. Where you dont have the approvals in place you should not communicate with the landlord without contacting your conveyancer before hand.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to unresolved.
  • If you hold a share in a the freehold, you should make sure that you have the original share certificate. Obtaining a replacement share certificate is often a lengthy process and slows down many a South Woodham Ferrers conveyancing transaction. Where a reissued share certificate is required, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be advisable verify this by asking your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 80 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • In relation to leasehold conveyancing in South Woodham Ferrers what are the most frequent lease defects?

    Leasehold conveyancing in South Woodham Ferrers is not unique. All leases are unique and drafting errors can sometimes mean that certain provisions are not included. 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 building
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Coventry Building Society, and Aldermore all have very detailed 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 pull out.

    I bought a 1 bedroom flat in South Woodham Ferrers, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in South Woodham Ferrers with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease terminates on 21st October 2079

    With 55 years remaining on your lease the likely cost is going to be between £27,600 and £31,800 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 are not able to supply the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in South Woodham Ferrers