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

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Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Standish, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Recently asked questions relating to Standish leasehold conveyancing

Planning to sign contracts shortly on a garden flat in Standish. Conveyancing solicitors have said that they are sending me a report on Monday. What should I be looking out for?

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

  • How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • The physical extent of the premises. This will be the flat itself but might incorporate a roof space or basement if appropriate.
  • Will you be prohibited or prevented from having pets in the property?
  • You must be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required For details of the information to be contained in your report on your leasehold property in Standish please enquire of your lawyer in ahead of your conveyancing in Standish

    • Estate agents have just been given the go-ahead to market my 2 bed apartment in Standish.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge invoice – what should I do?

    It best that you discharge the invoice 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 until 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 a negotiator for a reputable estate agent office in Standish where we have witnessed a few leasehold sales put at risk due to leases having less than 80 years remaining. I have received contradictory information from local Standish conveyancing firms. Could you confirm whether the seller of a flat can instigate the lease extension formalities for the buyer?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

    An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

    Can you provide any advice for leasehold conveyancing in Standish with the aim of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Standish can be avoided where you instruct lawyers the minute your agents start advertising the property and ask them to put together the leasehold information which will be required by the buyers solicitors.
    • Many freeholders or managing agents in Standish charge 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 sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Standish.
  • If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Standish state that internal structural alterations or installing wooden flooring require a licence issued by the Landlord consenting to such works. Should you dont have the approvals in place do not contact the landlord without checking with your conveyancer before hand.
  • A minority of Standish leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 purchasers or their solicitors.
  • If you hold a share in a the freehold, you should ensure that you are holding the original share certificate. Arranging a replacement share certificate can be a lengthy formality and slows down many a Standish home move. If a reissued share is required, you should approach the company officers or managing agents (if relevant) for this as soon as possible.

    • In relation to leasehold conveyancing in Standish what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in Standish. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. 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 property
    • A duty to insure the building
    • 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. Santander, The Royal Bank of Scotland, and Clydesdale all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to withdraw.

    Standish Leasehold Conveyancing - Sample of Queries Prior to Purchasing

      Are any of leasehold owners in arrears of their service charge payments? The prefered form of lease structure is where the freehold interest is in the ownership of the leaseholders. In this scenario the lessees benefit from control and even though a managing agent is usually retained if it is bigger than a house conversion, the managing agent is directed by the tenants. Is the freehold reversion owned jointly by the leaseholders?

    Other Topics

    Lease Extensions in Standish