Leasehold Conveyancing in Woburn Sands - Get a Quote from the leasehold experts approved by your lender

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

Woburn Sands leasehold conveyancing Example Support Desk Enquiries

There are only 62 years remaining on my lease in Woburn Sands. I now wish to extend my lease but my landlord is can not be found. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the lessor. On the whole an enquiry agent would be useful to conduct investigations and to produce an expert document to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Woburn Sands.

I today plan to offer on a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Woburn Sands. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Woburn Sands ?

The majority of houses in Woburn Sands are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Woburn Sands so you should seriously consider looking for a Woburn Sands conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your lawyer will appraise you on the various issues.

I've recently bought a leasehold house in Woburn Sands. Do I have any liability for service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I am a negotiator for a reputable estate agency in Woburn Sands where we have witnessed a few flat sales put at risk due to short leases. I have received contradictory information from local Woburn Sands conveyancing firms. Could you clarify whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease 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 to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

An alternative approach is to agree the lease extension with the freeholder 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 advice for leasehold conveyancing in Woburn Sands from the point of view of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Woburn Sands can be avoided where you get in touch lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ lawyers.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Woburn Sands leases often stipulate that internal structural changes or laying down wooden flooring require a licence issued by the Landlord acquiescing to such changes. If you fail to have the paperwork in place do not communicate with the landlord without contacting your solicitor in the first instance.
  • A minority of Woburn Sands leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are 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 lawyers.
  • If you have the benefit of shareholding 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 slows down many a Woburn Sands conveyancing deal. If a duplicate share is required, do contact the company director and secretary or managing agents (where 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 advisable verify this by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the lease term is less than 80 years. It is therefore important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

  • Woburn Sands Conveyancing for Leasehold Flats - Sample of Queries Prior to buying

      This information is useful as a) areas could cause problems for the block as the communal areas may start to deteriorate where repairs are not paid for b) if the leaseholders have an issue with the running of the building you will wish to know about it In the main the cost for major works tend not to be wrapped into the service charges, although a few managing agents in Woburn Sands require leasehold owners to pay into a reserve fund and this is used to offset against major repairs or maintenance. The best form of lease arrangement is where the freehold title is owned by the leaseholders. In this situation the leaseholders enjoy being in charge if their destiny and notwithstanding that a managing agent is often employed if the building is bigger than a house conversion, the managing agent is directed by the tenants.

    Other Topics

    Lease Extensions in Woburn Sands