Guaranteed fixed fees for Leasehold Conveyancing in Stow on the Wold

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Frequently asked questions relating to Stow on the Wold leasehold conveyancing

Having checked my lease I have discovered that there are only 68 years unexpired on my flat in Stow on the Wold. I now wish to get lease extension but my landlord is absent. What are my options?

If you meet the appropriate requirements, 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 lengthened by the Court. However, you will be required to prove that you have done all that could be expected to track down the lessor. For most situations an enquiry agent may be helpful to conduct investigations and prepare a report which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s disappearance and the application to the County Court covering Stow on the Wold.

Looking forward to complete next month on a leasehold property in Stow on the Wold. Conveyancing solicitors inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

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

  • You should be sent a copy of the lease
  • The physical extent of the demise. This will be the apartment itself but might incorporate a roof space or basement if appropriate.
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a reserve fund?
  • What options are open to you if a neighbour breach a clause of their lease?
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Stow on the Wold please enquire of your conveyancer in ahead of your conveyancing in Stow on the Wold

    • My wife and I purchased a leasehold house in Stow on the Wold. Conveyancing and Barclays mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Stow on the Wold who previously acted has now retired.What should I do?

    The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the new freeholder. There is no need to instruct a Stow on the Wold conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Do you have any top tips for leasehold conveyancing in Stow on the Wold with the intention of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Stow on the Wold can be avoided where you appoint lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the buyers conveyancers.
    • Many landlords or managing agents in Stow on the Wold levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Stow on the Wold.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you installed wooden flooring? Stow on the Wold leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence from the Landlord acquiescing to such alterations. Where you dont have the consents to hand you should not contact the landlord without checking with your lawyer first.
  • If you hold a share in a the freehold, you should make sure that you are holding the original share document. Organising a new share certificate is often a lengthy formality and delays many a Stow on the Wold conveyancing deal. Where a new share is necessary, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but you should double-check via your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is below 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • What makes a Stow on the Wold lease problematic?

    Leasehold conveyancing in Stow on the Wold is not unique. Most leases are unique and drafting errors can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the property
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.

    Stow on the Wold Leasehold Conveyancing - A selection of Questions you should ask Prior to buying

      Its a good idea to discover as much as you can regarding the managing agents as they can either make life much simpler or uncomfortable. Being a leasehold owner you are frequently in the clutches of the managing agents both financially and when it comes to daily issues such as the cleanliness of the communal areas. You should not be shy to ask other tenants what they think of their service. In conclusion, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and precisely what it includes. Best to be warned whether changing the roof or some other significant cost is anticipated to be shared amongst the tenants and will materially impact the level of the service fees or require a one off payment. Who are the managing agents?

    Other Topics

    Lease Extensions in Stow on the Wold