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

When it comes to leasehold conveyancing in Tiptree, you will need to chose a conveyancing practitioner with leasehold experience. Whether your lender is to be Santander, Birmingham Midshires or Bradford & Bingley make sure you find a lawyer on their panel. Find a Tiptree conveyancing lawyer with our search tool

Tiptree leasehold conveyancing Example Support Desk Enquiries

Expecting to exchange soon on a garden flat in Tiptree. Conveyancing lawyers assured me that they will have a report out to me next week. What should I be looking out for?

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

  • The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • Whether the lease restricts you from letting out the property, or having a home office for business
  • You should be told what constitutes a Nuisance in the lease
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Responsibility for repairing the window frames For a comprehensive list of information to be included in your report on your leasehold property in Tiptree please ask your conveyancer in ahead of your conveyancing in Tiptree

  • I have just started marketing my basement flat in Tiptree.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge invoice – Do I pay up?

    The sensible thing to do is pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

    I today plan to offer on a house that seems to be perfect, at a great figure which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Tiptree. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Tiptree ?

    The majority of houses in Tiptree are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Tiptree so you should seriously consider shopping around for a Tiptree conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your lawyer should report to you on the legal implications.

    I am looking at a two flats in Tiptree which have approximately forty five years unexpired on the lease term. Will this present a problem?

    There is no doubt about it. A leasehold flat in Tiptree is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. For most purchasers and banks, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Tiptree conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

    I've recently bought a leasehold property in Tiptree. Do I have any liability for service charges relating to a period prior to completion of my purchase?

    Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    Leasehold Conveyancing in Tiptree - A selection of Queries before buying

      Does the lease include onerous restrictions? The answer will be important as a) areas could cause problems for the building as the common areas may start to deteriorate where maintenance are not paid for b) if the leasehold owners have an issue with the running of the building you will wish to know about it How long is the Lease?

    Other Topics

    Lease Extensions in Tiptree