Fixed-fee leasehold conveyancing in Stilton:

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Stilton leasehold conveyancing: Q and A’s

Having had my offer accepted I require leasehold conveyancing in Stilton. Before diving in I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Stilton - 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.

Harry (my fiance) and I may need to sub-let our Stilton 1st floor flat for a while due to a career opportunity. We instructed a Stilton conveyancing practice in 2002 but they have closed and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?

A small minority of properties in Stilton do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

There are only Seventy years remaining on my flat in Stilton. I need to get lease extension but my freeholder is absent. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to prove that you have used your best endeavours to track down the landlord. For most situations an enquiry agent may be useful to try and locate and prepare an expert document which can be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the application to the County Court overseeing Stilton.

I am looking at a two maisonettes in Stilton both have approximately fifty years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Stilton. The lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the saleability of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena

Do you have any top tips for leasehold conveyancing in Stilton with the aim of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Stilton can be bypassed if you get in touch lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the buyers lawyers.
  • The majority landlords or managing agents in Stilton levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for 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 usual reason for frustration in leasehold conveyancing in Stilton.
  • A minority of Stilton leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or settle 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 are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unsettled.
  • You believe that you know the number of years left on your lease but it would be wise to verify this via your lawyers. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 75 years. It is therefore essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

  • Leasehold Conveyancing in Stilton - Sample of Questions you should consider before buying

      How is the lease structured? How long is the Lease? What restrictions exist in the Stilton Lease?

    Other Topics

    Lease Extensions in Stilton