Leasehold Conveyancing in Stanford Le Hope - Get a Quote from the leasehold experts approved by your lender

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Leasehold conveyancing in Stanford Le Hope is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Stanford Le Hope and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Top Five Questions relating to Stanford Le Hope leasehold conveyancing

I am in need of some leasehold conveyancing in Stanford Le Hope. Before I get started I would like to find out the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Stanford Le Hope - 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 would like to rent out my leasehold flat in Stanford Le Hope. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Even though your last Stanford Le Hope conveyancing lawyer is not available you can check your lease to check if you are permitted to let out the property. The rule is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek permission via your landlord or some other party in advance of subletting. The net result is you not allowed to sublet without first obtaining permission. The consent is not allowed to be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord for their consent.

I've recently bought a leasehold property in Stanford Le Hope. Do I have any liability for service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any top tips for leasehold conveyancing in Stanford Le Hope with the purpose of saving time on 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 ask them to collate the leasehold documentation which will be required by the buyers representatives.
  • The majority landlords or Management Companies in Stanford Le Hope levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Stanford Le Hope.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Stanford Le Hope leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord approving such changes. Should you fail to have the approvals in place you should not contact the landlord without contacting your solicitor in the first instance.
  • A minority of Stanford Le Hope 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 financial (bank) and professional references. The 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you hold a share in a the Management Company, you should ensure that you hold the original share certificate. Obtaining a duplicate share certificate is often a lengthy process and frustrates many a Stanford Le Hope home move. If a new share is needed, do contact the company officers or managing agents (if relevant) for this at the earliest opportunity.

    • When it comes to leasehold conveyancing in Stanford Le Hope what are the most frequent lease defects?

    There is nothing unique about leasehold conveyancing in Stanford Le Hope. All leases are individual and drafting errors can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the premises
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Norwich and Peterborough Building Society, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

    I am the registered owner of a studio flat in Stanford Le Hope, conveyancing was carried out in 1997. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Stanford Le Hope with an extended lease are worth £204,000. The ground rent is £45 per annum. The lease ends on 21st October 2074

    With just 52 years unexpired we estimate the price of your lease extension to span between £30,400 and £35,200 plus plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Stanford Le Hope