Fixed-fee leasehold conveyancing in Waddington:

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When it comes to leasehold conveyancing in Waddington, you will need to appoint a conveyancing solicitor with leasehold experience. Whether your lender is to be Santander, Birmingham Midshires or Bradford & Bingley be sure to choose a lawyer on their approved list. Feel free to use our search tool

Waddington leasehold conveyancing Example Support Desk Enquiries

I own a leasehold flat in Waddington. Conveyancing and Halifax mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Waddington who previously acted has long since retired.Do I pay?

The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Waddington conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Last month I purchased a leasehold house in Waddington. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee 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 be sure 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).

What advice can you give us when it comes to finding a Waddington conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Waddington conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Waddington conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

  • Can they put you in touch with client in Waddington who can give a testimonial?
  • What are the legal fees for lease extension conveyancing?

    • Can you provide any top tips for leasehold conveyancing in Waddington from the point of view of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Waddington can be avoided where you get in touch lawyers the minute you market your property and request that they start to collate the leasehold information needed by the buyers lawyers.
    • Many landlords or managing agents in Waddington charge for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Waddington.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Waddington state that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord approving such alterations. Should you dont have the paperwork in place you should not communicate with the landlord without checking with your conveyancer in advance.
  • A minority of Waddington leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual 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 hold a share in a the freehold, you should ensure that you hold the original share certificate. Obtaining a re-issued share certificate can be a time consuming formality and frustrates many a Waddington home move. Where a reissued share is necessary, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.

    • What are the common deficiencies that you encounter in leases for Waddington properties?

    Leasehold conveyancing in Waddington is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the building
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, The Mortgage Works, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.

    I acquired a studio flat in Waddington, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Waddington with a long lease are worth £260,000. The ground rent is £55 invoiced every year. The lease terminates on 21st October 2101

    With 76 years left to run we estimate the price of your lease extension to be between £10,500 and £12,000 as well as costs.

    The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Waddington