Experts for Leasehold Conveyancing in Whittlesey

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Leasehold conveyancing in Whittlesey is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Whittlesey and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Top Five Questions relating to Whittlesey leasehold conveyancing

I am hoping to complete next month on a basement flat in Whittlesey. Conveyancing solicitors have said that they will have a report out to me on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Whittlesey should include some of the following:

  • The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • What options are open to you if a neighbour breach a clause of their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Whittlesey please enquire of your lawyer in ahead of your conveyancing in Whittlesey

    • I have just started marketing my basement flat in Whittlesey.Conveyancing has not commenced but I have just received a yearly service charge demand – what should I do?

    The sensible thing to do is pay 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

    I am a negotiator for a busy estate agency in Whittlesey where we have witnessed a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Whittlesey conveyancing solicitors. Could you shed some light as to whether the seller of a flat can start the lease extension formalities for the buyer?

    As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer 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 needs to be completed prior to, or at the same time as completion of the sale.

    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 advice can you give us when it comes to choosing a Whittlesey conveyancing practice to carry out our lease extension conveyancing?

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

    • How familiar is the firm with lease extension legislation?
  • If the firm is not ALEP accredited then what is the reason?

    • Do you have any advice for leasehold conveyancing in Whittlesey with the intention of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Whittlesey can be bypassed if you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers solicitors.
    • If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Whittlesey leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord acquiescing to such works. Should you fail to have the consents in place do not communicate with the landlord without checking with your solicitor first.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where a dispute is ongoing. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 details of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unsettled.
  • If you are supposed to have a share in the freehold, you should ensure that you have the original share certificate. Obtaining a re-issued share certificate is often a lengthy process and delays many a Whittlesey conveyancing transaction. If a reissued share is required, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is below 75 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 property on the market for sale.

    • Leasehold Conveyancing in Whittlesey - Examples of Questions you should ask before Purchasing

      What restrictions exist in the Whittlesey Lease? It would be prudent to find out as much as possible regarding the managing agents as they will either make your living at the property much simpler or problematic. As the owner of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to day to day matters like the tidiness of the common parts. Don't be shy to ask prospective neighbours what they think of their management. In conclusion, find out the dates that you are obliged pay the maintenance charge to the relevant party and specifically what it includes. How is the lease structured?

    Other Topics

    Lease Extensions in Whittlesey