Fixed-fee leasehold conveyancing in South Woodham Ferrers:

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Questions and Answers: South Woodham Ferrers leasehold conveyancing

There are only 62 years unexpired on my lease in South Woodham Ferrers. I need to extend my lease but my freeholder is absent. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to track down the lessor. On the whole a specialist may be useful to conduct investigations and prepare a report to be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the application to the County Court overseeing South Woodham Ferrers.

I am hoping to complete next month on a studio apartment in South Woodham Ferrers. Conveyancing lawyers assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

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

  • The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The physical extent of the property. This will be the flat itself but might incorporate a roof space or cellar if appropriate.
  • You need to be told what constitutes a Nuisance in the lease
  • 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
  • You should have a good understanding of the insurance provisions
  • Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in South Woodham Ferrers please ask your conveyancer in ahead of your conveyancing in South Woodham Ferrers

    • I own a leasehold house in South Woodham Ferrers. Conveyancing and HSBC Bank mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in South Woodham Ferrers who acted for me is not around.Do I pay?

    First contact HMLR 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 South Woodham Ferrers conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am looking at a two maisonettes in South Woodham Ferrers both have in the region of forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?

    There are no two ways about it. A leasehold apartment in South Woodham Ferrers is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the value of the premises. For most purchasers and mortgage companies, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 premises 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 South Woodham Ferrers conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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 South Woodham Ferrers with the intention of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in South Woodham Ferrers can be reduced where you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information which will be required by the buyers lawyers.
    • The majority freeholders or managing agents in South Woodham Ferrers levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information 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 common cause of delay in leasehold conveyancing in South Woodham Ferrers.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in South Woodham Ferrers state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. Where you dont have the consents in place do not communicate with the landlord without checking with your lawyer in advance.
  • A minority of South Woodham Ferrers leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share document. Obtaining a new share certificate can be a lengthy formality and frustrates many a South Woodham Ferrers home move. If a new share is necessary, do contact the company director and secretary or managing agents (if relevant) for this as soon as possible.

    • South Woodham Ferrers Conveyancing for Leasehold Flats - Examples of Queries before Purchasing

      Is there a share of the freehold? How much is the yearly service fee and ground rent? For many South Woodham Ferrers leaseholds the outlay for major works are not included within service charges, albeit that some managing agents in South Woodham Ferrers ask leaseholders to contribute towards a sinking fund and this is used to offset against major repairs or maintenance.

    Other Topics

    Lease Extensions in South Woodham Ferrers