Fixed-fee leasehold conveyancing in Whitnash:

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

Whitnash leasehold conveyancing: Q and A’s

I have recently realised that I have 72 years remaining on my flat in Whitnash. I now wish to extend my lease but my landlord is missing. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the lessor. For most situations an enquiry agent should be helpful to carry out a search and to produce an expert document to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Whitnash.

I am attracted to a couple of apartments in Whitnash which have in the region of forty five years left on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Whitnash is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. For most buyers and lenders, 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 property 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 premises 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 Whitnash conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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.

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

If you are instructing a property lawyer for lease extension works (regardless if they are a Whitnash conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Whitnash conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • If the firm is not ALEP accredited then why not?
  • Can they put you in touch with client in Whitnash who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Whitnash with the aim of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Whitnash can be bypassed where 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 buyers lawyers.
    • Many landlords or managing agents in Whitnash charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack 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 frustration in leasehold conveyancing in Whitnash.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Whitnash state that internal structural alterations or installing wooden flooring require a licence issued by the Landlord consenting to such changes. Where you fail to have the consents to hand you should not communicate with the landlord without checking with your conveyancer first.
  • Some Whitnash leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • You believe that you know the number of years left on your lease but it would be advisable verify this by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. In the circumstances it is essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • Completion in due on our sale of a £400000 flat in Whitnash in just under a week. The landlords agents has quoted £360 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Whitnash?

    Whitnash conveyancing on leasehold apartments normally involves the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries most will be content to do so. They are entitled invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge required by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, otherwise the invoice is technically not due. Reality however dictates that you have no option but to pay whatever is demanded should you wish to complete the sale of your home.

    Leasehold Conveyancing in Whitnash - Sample of Queries before buying

      The best form of lease structure is a share of the freehold. In this scenario the lessees enjoy being in charge if their destiny and even though a managing agent is often employed if it is larger than a house conversion, the managing agent retained by the leaseholders. This information is important as a) areas can cause problems in the block as the common areas may start to deteriorate where maintenance remain unpaid b) if the tenants have an issue with the running of the building you will want to know about it How much is the ground rent and service charge?

    Other Topics

    Lease Extensions in Whitnash