Fixed-fee leasehold conveyancing in Stanford Le Hope:

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When it comes to leasehold conveyancing in Stanford Le Hope, you will need to chose a conveyancing practitioner with leasehold experience. Whether your lender is to be Clydesdale , Yorkshire Building Society or Bradford & Bingley be sure to choose a lawyer on their approved list. Feel free to use our search tool

Examples of recent questions relating to leasehold conveyancing in Stanford Le Hope

I've found a house that seems to meet my requirements, at a great figure which is making it more attractive. I have subsequently discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Stanford Le Hope. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

The majority of houses in Stanford Le Hope are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Stanford Le Hope in which case you should be looking for a Stanford Le Hope conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer should appraise you on the various issues.

I am attracted to a two maisonettes in Stanford Le Hope which have in the region of fifty years remaining on the lease term. Do I need to be concerned?

A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this area

I am a negotiator for a reputable estate agency in Stanford Le Hope where we have experienced a number of flat sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Stanford Le Hope conveyancing solicitors. Can you shed some light as to whether the owner of a flat can commence the lease extension process for the buyer?

As long as the seller has owned the lease 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. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

Alternatively, it may be possible 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 offer any advice when it comes to finding a Stanford Le Hope conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Stanford Le Hope conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Stanford Le Hope 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 useful:

  • If they are not ALEP accredited then what is the reason?
  • What are the legal fees for lease extension work?

    • Do you have any advice for leasehold conveyancing in Stanford Le Hope from the perspective of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Stanford Le Hope can be reduced if you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information which will be required by the purchasers’ conveyancers.
    • A minority of Stanford Le Hope leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The 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 had conflict with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than ongoing.
  • If you hold a share in a the Management Company, you should make sure that you have the original share certificate. Arranging a replacement share certificate is often a lengthy process and slows down many a Stanford Le Hope conveyancing transaction. If a reissued share is needed, you should approach the company officers or managing agents (where applicable) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this via your conveyancers. A purchaser'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 important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Stanford Le Hope Conveyancing for Leasehold Flats - Examples of Queries before Purchasing

      Is anyone aware of any major works in the planning that will add a premium to the service charges? Is the freehold owned collectively by the leaseholders? Its a good idea to discover as much as you can concerning the managing agents as they can either make living at the property much easier or uncomfortable. As the owner of a leasehold property you are often at the mercy of the managing agents from a financial perspective and when it comes to every day matters such as the cleanliness of the communal areas. You should not be shy to ask prospective neighbours what they think of them. In conclusion, find out the dates that the service charges are due to the relevant party and precisely how they are spending the funds.

    Other Topics

    Lease Extensions in Stanford Le Hope