Fixed-fee leasehold conveyancing in Toddington:

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

Recently asked questions relating to Toddington leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Toddington. Before diving in I require certainty as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and 99.9% are in Toddington - 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.

Due to sign contracts shortly on a garden flat in Toddington. Conveyancing lawyers have said that they are sending me a report 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 Toddington should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
  • Will you be prohibited or prevented from having pets in the property?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Changes to the flat (alterations and additions)
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • Responsibility for repairing the window frames
  • 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 Toddington please ask your conveyancer in advance of your conveyancing in Toddington

    • I have just appointed agents to market my basement flat in Toddington.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge invoice – what should I do?

    It best that you discharge 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 managing agents will not acknowledge the buyer unless 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 am tempted by the attractive purchase price for a two maisonettes in Toddington both have approximately fifty years remaining on the lease term. Do I need to be concerned?

    A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is advisable to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena

    Can you provide any advice for leasehold conveyancing in Toddington from the point of view of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Toddington can be reduced if you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation needed by the purchasers’ representatives.
    • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Toddington state that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord acquiescing to such works. Should you dont have the approvals to hand do not communicate with the landlord without checking with your solicitor before hand.
  • A minority of Toddington leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying 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 concerned about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as over rather than unsettled.
  • You believe that you know the number of years remaining on your lease but it would be advisable double-check via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is less than 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Toddington Conveyancing for Leasehold Flats - Examples of Queries before buying

      Where a Toddington lease has no more than eighty years it will impact the value of the property. Check with your mortgage company that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease at some point and it is worth finding out how much this will be. For most Toddingtonlease extensions you would be be obliged to have owned the residence for two years before you are eligible to exercise a lease extension. What is the the remaining lease term? Who manages the block?

    Other Topics

    Lease Extensions in Toddington