Leasehold Conveyancing in Stamford Bridge - Get a Quote from the leasehold experts approved by your lender

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Stamford Bridge leasehold conveyancing Example Support Desk Enquiries

I am in need of some leasehold conveyancing in Stamford Bridge. Before diving in I want to be sure as to the unexpired term of the lease.

Assuming the lease is registered - and most are in Stamford Bridge - 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.

I've found a house that seems to meet my requirements, at a great figure which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Stamford Bridge. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Stamford Bridge ?

Most houses in Stamford Bridge are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Stamford Bridge in which case you should be looking for a Stamford Bridge conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer should report to you on the legal implications.

I own a leasehold flat in Stamford Bridge. Conveyancing and Skipton Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Stamford Bridge who previously acted has long since retired.Any advice?

First make enquiries of HMLR to be sure that this person is indeed the new freeholder. You do not need to incur the fees of a Stamford Bridge conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Do you have any top tips for leasehold conveyancing in Stamford Bridge with the purpose of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Stamford Bridge can be avoided if you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Stamford Bridge leases often stipulate that internal structural alterations or installing wooden flooring require a licence issued by the Landlord acquiescing to such changes. Should you dont have the approvals in place you should not communicate with the landlord without checking with your lawyer first.
  • A minority of Stamford Bridge leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is 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 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 Management Company, you should ensure that you have the original share document. Arranging a new share certificate can be a lengthy process and frustrates many a Stamford Bridge home move. Where a reissued share is required, do contact 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 remaining on your lease but it would be wise to double-check 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 less than 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

  • What makes a Stamford Bridge lease problematic?

    Leasehold conveyancing in Stamford Bridge is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain clauses are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the premises
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Norwich and Peterborough Building Society, and Alliance & Leicester all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.

    Stamford Bridge Leasehold Conveyancing - Examples of Questions you should consider Prior to buying

      The majority of Stamford Bridge leasehold flats will be liable to pay a service bill for the upkeep of the block set by the management company. Where you buy the apartment you will have to pay this liability, normally in instalments accross the year. This can differ from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a rentcharge to be met yearly, ordinarily this is not a significant figure, say about £50-£100 but you should to check it because on occasion it can be many hundreds of pounds. Please note that where the lease has no more than eighty years it will affect the marketability of the flat. Check with your mortgage company that they are happy with remaining years on the lease. A short lease means that you will almost definitely have to extend the lease sooner rather than later and it is worth finding out how much this would cost. Remember, in most cases you would be required to have been the owner of the premises for a couple of years before you are eligible to extend the lease. How many years remain on the lease?

    Other Topics

    Lease Extensions in Stamford Bridge