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Totton leasehold conveyancing: Q and A’s

I am hoping to complete next month on a garden flat in Totton. Conveyancing lawyers have said that they are sending me a report next week. Are there areas in the report that I should be focusing on?

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

  • Are pets allowed in the flat?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • 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
  • Repair and maintenance of the flat
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • 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 For a comprehensive list of information to be contained in your report on your leasehold property in Totton please enquire of your solicitor in ahead of your conveyancing in Totton

    • I am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it more attractive. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Totton. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Totton ?

    Most houses in Totton are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Totton in which case you should be shopping around for a Totton conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your lawyer will appraise you on the various issues.

    I am looking at a couple of flats in Totton both have in the region of 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?

    A lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the marketability of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field

    I work for a busy estate agent office in Totton where we have experienced a few leasehold sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Totton conveyancing firms. Can you confirm whether the vendor of a flat can instigate the lease extension formalities 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 proposed purchaser 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 needs to be completed prior to, or simultaneously with completion of the disposal of the property.

    Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

    What are your top tips when it comes to finding a Totton conveyancing practice to deal with our lease extension?

    When appointing a property lawyer for lease extension works (regardless if they are a Totton conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Totton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

    • If the firm is not ALEP accredited then why not?
  • What are the charges for lease extension conveyancing?

    • Totton Leasehold Conveyancing - Sample of Questions you should ask before buying

      Most Totton leasehold apartments will incur a service bill for maintenance of the block set by the management company. Where you buy the apartment you will have to meet this amount, normally in instalments accross the year. This could be anything from a couple of hundred pounds to thousands of pounds for blocks with lifts and large common areas. In all probability there will be a ground rent for you to pay annual, normally this is not a exorbitant sum, say about £50-£100 but you should to enquire as on occasion it could be many hundreds of pounds. How much is the ground rent and service charge? In the main the cost for major works are not incorporated into the maintenance charges, although there some managing agents in Totton obliged leaseholders to contribute towards a reserve fund created for the specific intention of building a fund for major repairs or maintenance.

    Other Topics

    Lease Extensions in Totton