Guaranteed fixed fees for Leasehold Conveyancing in Staindrop

Get a Quote

Require a conveyancing quote from a solicitor for leasehold conveyancing in Staindrop on your lender’s panel? Use our search tool to find leading local Staindrop conveyancing practitioners or national solicitors on your lender’s panel .

Recently asked questions relating to Staindrop leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Staindrop. Before I get started I require certainty as to the remaining lease term.

If the lease is registered - and almost all are in Staindrop - then the leasehold title will always include the basic details 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.

Having checked my lease I have discovered that there are only Sixty One years left on my lease in Staindrop. I am keen to extend my lease but my freeholder is missing. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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. However, you will be required to prove that you or your lawyers have used your best endeavours to find the freeholder. For most situations an enquiry agent should be useful to conduct investigations and prepare an expert document to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the application to the County Court covering Staindrop.

I am tempted by the attractive purchase price for a two maisonettes in Staindrop which have about forty five years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Staindrop is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. For most buyers and lenders, leases with under 75 years become less and less attractive. 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 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 property 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 Staindrop 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 any new 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.

Can you offer any advice when it comes to finding a Staindrop conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Staindrop conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Staindrop conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • How familiar is the firm with lease extension legislation?
  • If they are not ALEP accredited then why not?

    • Do you have any advice for leasehold conveyancing in Staindrop from the point of view of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Staindrop can be bypassed where you appoint lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ conveyancers.
    • Many freeholders or Management Companies in Staindrop levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Staindrop.
  • A minority of Staindrop leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any 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 lawyers.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be warry about purchasing a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. 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 clearly preferable to reveal the dispute as over rather than ongoing.
  • If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share document. Arranging a re-issued share certificate is often a time consuming formality and slows down many a Staindrop home move. If a reissued share is needed, do contact the company officers or managing agents (if relevant) for this sooner rather than later.

    • Leasehold Conveyancing in Staindrop - Sample of Queries Prior to Purchasing

      Are there any major works anticipated that will likely add a premium to the service fees? The answer will be useful as a) areas can cause problems in the building as the common areas may start to deteriorate where maintenance remain unpaid b) if the leaseholders have a dispute with the running of the building you will need to have complete disclosure It would be prudent to enquire if there is anything that is prohibited in the lease. For example plenty of leases prohibit pets being allowed in in a block in Staindrop. If you love the apartmentin Staindrop but your cat is not allowed to make the move with you then you will be faced difficult compromise.

    Other Topics

    Lease Extensions in Staindrop