Guaranteed fixed fees for Leasehold Conveyancing in Wickford

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

Examples of recent questions relating to leasehold conveyancing in Wickford

My wife and I may need to rent out our Wickford garden flat for a while due to taking a sabbatical. We instructed a Wickford conveyancing practice in 2004 but they have closed and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?

Even though your last Wickford conveyancing lawyer is no longer around you can check your lease to check if it allows you to sublet the property. The rule is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you need to seek consent from your landlord or some other party in advance of subletting. This means that you cannot sublet without prior permission. The consent should not be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

I have just appointed agents to market my ground floor apartment in Wickford.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge demand – Do I pay up?

It best that you clear 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 managing agents 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 tempted by the attractive purchase price for a two flats in Wickford both have about 50 years remaining on the lease term. Will this present a problem?

A lease is a right to use the property for a period of time. As the lease shortens the value of the lease reduces and results in it becoming more costly to extend the lease. This is why it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area

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

When appointing a property lawyer for your lease extension (regardless if they are a Wickford conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Wickford conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

  • What volume of lease extensions have they completed in Wickford in the last twenty four months?
  • Can they put you in touch with client in Wickford who can give a testimonial?

  • What are the common deficiencies that you come across in leases for Wickford properties?

    Leasehold conveyancing in Wickford is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the building
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Leeds Building Society, and Barclays Direct 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 does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.

    I purchased a split level flat in Wickford, conveyancing was carried out 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Wickford with an extended lease are worth £235,000. The ground rent is £60 charged once a year. The lease terminates on 21st October 2103

    With 80 years remaining on your lease the likely cost is going to range between £7,600 and £8,800 as well as costs.

    The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Wickford