Guaranteed fixed fees for Leasehold Conveyancing in Westcliff On Sea

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

Frequently asked questions relating to Westcliff On Sea leasehold conveyancing

Planning to complete next month on a studio apartment in Westcliff On Sea. Conveyancing solicitors inform me that they will have a report out to me 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 Westcliff On Sea should include some of the following:

  • The total extent of the property. This will be the flat itself but may incorporate a roof space or cellar if appropriate.
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Whether your lease has a provision for a sinking fund?
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Westcliff On Sea please enquire of your conveyancer in advance of your conveyancing in Westcliff On Sea

    • I have just appointed agents to market my garden flat in Westcliff On Sea.Conveyancing has not commenced but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

    The sensible thing to do is pay the service charge 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. This will smooth the conveyancing process.

    I've found a house that appears to be perfect, at a reasonable price which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Westcliff On Sea. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Westcliff On Sea ?

    Most houses in Westcliff On Sea 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. We note that you are buying in Westcliff On Sea so you should seriously consider looking for a Westcliff On Sea conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your conveyancer will report to you on the legal implications.

    I am employed by a busy estate agency in Westcliff On Sea where we have witnessed a few leasehold sales put at risk due to short leases. I have received contradictory information from local Westcliff On Sea conveyancing firms. Could you shed some light as to whether the owner of a flat can initiate the lease extension formalities for the buyer?

    As long as 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. The benefit of this is that the proposed purchaser can avoid having 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 before, or simultaneously with completion of the disposal of the property.

    An alternative approach is 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 buyer.

    Can you provide any top tips for leasehold conveyancing in Westcliff On Sea with the aim of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Westcliff On Sea can be reduced where you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information which will be required by the buyers conveyancers.
    • Many freeholders or managing agents in Westcliff On Sea levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Westcliff On Sea.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Westcliff On Sea state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord acquiescing to such works. If you dont have the paperwork to hand you should not communicate with the landlord without contacting your solicitor before hand.
  • A minority of Westcliff On Sea leases require Licence to Assign from the landlord. If this applies to your lease, 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 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.
  • You believe that you know the number of years left on your lease but you should double-check by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I acquired a leasehold flat in Westcliff On Sea, conveyancing having been completed in 2009. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Westcliff On Sea with over 90 years remaining are worth £254,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ends on 21st October 2098

    You have 74 years unexpired we estimate the premium for your lease extension to span between £13,300 and £15,400 as well as costs.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.

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    Lease Extensions in Westcliff On Sea