Experts for Leasehold Conveyancing in Stapleton

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Examples of recent questions relating to leasehold conveyancing in Stapleton

Having had my offer accepted I require leasehold conveyancing in Stapleton. Before I set the wheels in motion I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% are in Stapleton - then the leasehold title will always include the short particulars 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 only have 62 years remaining on my flat in Stapleton. I need to extend my lease but my freeholder is absent. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to track down the lessor. For most situations an enquiry agent would be helpful to conduct investigations and to produce an expert document to be used as proof that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on investigating the landlord’s disappearance and the application to the County Court covering Stapleton.

Planning to complete next month on a studio apartment in Stapleton. Conveyancing lawyers assured me that they report fully next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Stapleton should include some of the following:

  • You need to be told what constitutes a Nuisance in the lease
  • Whether your lease has a provision for a sinking fund?
  • You should have a good understanding of the insurance provisions
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What you can do if a neighbour is in violation of a provision in their lease?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Stapleton please enquire of your lawyer in advance of your conveyancing in Stapleton

    • What are your top tips when it comes to finding a Stapleton conveyancing practice to deal with our lease extension?

    When appointing a property lawyer for your lease extension (regardless if they are a Stapleton conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Stapleton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

    • If the firm is not ALEP accredited then what is the reason?
  • Can they put you in touch with client in Stapleton who can give a testimonial?

    • Do you have any advice for leasehold conveyancing in Stapleton from the point of view of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Stapleton can be avoided if you appoint lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the purchasers’ conveyancers.
    • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Stapleton leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. If you fail to have the paperwork in place you should not contact the landlord without contacting your conveyancer before hand.
  • A minority of Stapleton leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should 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 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 actual amount of the service charge 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 before the property is marketed. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. 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 better to present the dispute as over as opposed to unresolved.
  • You believe that you know the number of years left on your lease but it would be advisable verify this by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is under 75 years. It is therefore essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I inherited a basement flat in Stapleton, conveyancing was carried out in 2002. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Stapleton with a long lease are worth £248,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease runs out on 21st October 2096

    You have 75 years left to run we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as legals.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Stapleton