Leasehold Conveyancing in Thrapston - Get a Quote from the leasehold experts approved by your lender

Get a Quote

While any conveyancing practice can theoretically deal with your leasehold conveyancing in Thrapston, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in Thrapston

I wish to rent out my leasehold flat in Thrapston. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

The lease dictates relations between the landlord and you the flat owner; specifically, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Thrapston do not contain subletting altogether – such a provision would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

I only have Fifty years remaining on my lease in Thrapston. I need to extend my lease but my landlord is missing. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to locate the lessor. On the whole an enquiry agent may be useful to try and locate and prepare a report to be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s absence and the application to the County Court covering Thrapston.

I am looking at a two maisonettes in Thrapston which have about fifty years unexpired on the lease term. Do I need to be concerned?

There are plenty of short leases in Thrapston. The lease is a right to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease deteriorate and it becomes more expensive to extend the lease. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this arena

Do you have any top tips for leasehold conveyancing in Thrapston with the purpose of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Thrapston can be avoided if you appoint lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
  • The majority landlords or managing agents in Thrapston charge for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Thrapston.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Thrapston state that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord consenting to such changes. Should you fail to have the approvals in place do not contact the landlord without checking with your lawyer in the first instance.
  • If there is a history of conflict with your landlord 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 property where there is an ongoing dispute. You will have to accept that you will have to 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 are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to unresolved.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 80 years. It is therefore important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £250000 apartment in Thrapston next Tuesday . The managing agents has quoted £396 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Thrapston?

    Thrapston conveyancing on leasehold apartments more often than not involves the purchaser’s solicitor sending enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to assist. They may charge a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The management information fee required by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, without which the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

    Thrapston Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing

      How many of the leaseholders are in arrears for their maintenance charge payments? Who are the managing agents? The best form of lease structure is a share of the freehold. In this situation the tenants enjoy control and although a managing agent is usually retained where it is larger than a house conversion, the managing agent retained by the leaseholders.

    Other Topics

    Lease Extensions in Thrapston