Fixed-fee leasehold conveyancing in Tilbury:

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

Top Five Questions relating to Tilbury leasehold conveyancing

I am on look out for some leasehold conveyancing in Tilbury. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and almost all are in Tilbury - 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've found a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Tilbury. Conveyancing advisers have not yet been instructed. Will they explain the issues?

The majority of houses in Tilbury are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Tilbury in which case you should be looking for a Tilbury conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer will advise you fully on all the issues.

I am a negotiator for a long established estate agency in Tilbury where we have experienced a number of flat sales derailed as a result of short leases. I have received inconsistent advice from local Tilbury conveyancing solicitors. Please can you clarify whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Can you provide any advice for leasehold conveyancing in Tilbury from the perspective of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Tilbury can be avoided where you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold information needed by the buyers solicitors.
  • The majority landlords or Management Companies in Tilbury charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information 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 usual reason for delay in leasehold conveyancing in Tilbury.
  • A minority of Tilbury 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 bank and professional references. The 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 purchasers or their solicitors.
  • If you are supposed to have a share in the Management Company, you should make sure that you have the original share certificate. Obtaining a re-issued share certificate is often a time consuming process and frustrates many a Tilbury conveyancing transaction. If a duplicate share certificate is required, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check by asking your conveyancers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is less than 80 years. In the circumstances it is important 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.

    • In relation to leasehold conveyancing in Tilbury what are the most common lease defects?

    Leasehold conveyancing in Tilbury is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • 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.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Coventry Building Society, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

    Leasehold Conveyancing in Tilbury - A selection of Queries before buying

      The answer will be helpful as a) areas could result in problems for the building as the common areas may start to deteriorate if repairs are not paid for b) if the leasehold owners have a dispute with the managing agents you will want to have complete disclosure The best form of lease arrangement is a share of the freehold. In this arrangement the lessees enjoy control and notwithstanding that a managing agent is often retained where the building is larger than a house conversion, the managing agent is directed by the tenants. You should want to find out as much as possible concerning the company managing the block as they will either make your living at the property much simpler or a lot more difficult. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to practical issues such as the upkeep of the communal areas. You should not be shy to ask prospective neighbours if they are happy with them. In conclusion, investigate as to the dates that you are obliged pay the service charge to the managing agents and specifically what it includes.

    Other Topics

    Lease Extensions in Tilbury