Experts for Leasehold Conveyancing in Woburn

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Frequently asked questions relating to Woburn leasehold conveyancing

Planning to complete next month on a ground floor flat in Woburn. Conveyancing lawyers inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

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

  • You should receive a copy of the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Whether your lease has a provision for a sinking fund?
  • Changes to the flat (alterations and additions)
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Responsibility for repairing the window frames
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Woburn please enquire of your lawyer in ahead of your conveyancing in Woburn

  • I have just appointed agents to market my 2 bed apartment in Woburn.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge invoice – Do I pay up?

    It best that you 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 managing agents will not acknowledge the buyer unless 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.

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

    When appointing a property lawyer for your lease extension (regardless if they are a Woburn conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Woburn conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

    • How familiar is the practice with lease extension legislation?
  • Can they put you in touch with client in Woburn who can give a testimonial?

  • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £275000 apartment in Woburn next Monday . The managing agents has quoted £300 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Woburn?

    For most leasehold sales in Woburn conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

    • Answering pre-exchange questions
    • Where consent is required before sale in Woburn
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Woburn leasehold property is £350. For Woburn conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply the information.

    What makes a Woburn lease defective?

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

    • A provision to repair to or maintain parts of the building
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Barnsley Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.

    Woburn Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing

      Who are the managing agents? It is important to be aware whether window replacement or some other major work is due in the near future that will be shared between the tenants and will dramatically impact the level of the service charges or result in a specific invoice. This information is important as a) areas can cause problems in the building as the common areas may start to deteriorate if maintenance are not paid for b) if the leaseholders have a dispute with the running of the building you will want to have complete disclosure

    Other Topics

    Lease Extensions in Woburn