I am in need of some leasehold conveyancing in Woburn Sands. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Woburn Sands - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I have recently realised that I have Fifty years left on my flat in Woburn Sands. I am keen to extend my lease but my landlord is absent. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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 magistrate. However, you will be required to prove that you or your lawyers have made all reasonable attempts to track down the landlord. On the whole a specialist should be helpful to try and locate and to produce an expert document which can be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the application to the County Court covering Woburn Sands.

I am hoping to complete next month on a studio apartment in Woburn Sands. Conveyancing solicitors inform me that they report fully tomorrow. Are there areas in the report that I should be focusing on?

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

• The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
• The physical extent of the property. This will be the apartment itself but might incorporate a roof space or basement if appropriate.
• Does the lease prohibit wood flooring?
• Whether the lease restricts you from letting out the flat, or having a home office for business
• You need to be told what counts as a Nuisance in the lease
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• You should have a good understanding of the insurance provisions

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

• A significant proportion of the delay in leasehold conveyancing in Woburn Sands can be avoided if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the buyers lawyers.
• Many landlords or managing agents in Woburn Sands levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Woburn Sands.
• If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Woburn Sands state that internal structural changes or addition of wooden flooring calls for a licence from the Landlord approving such changes. Where you fail to have the approvals to hand do not contact the landlord without checking with your solicitor in the first instance.
• A minority of Woburn Sands leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The 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 buyers or their solicitors.
• You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is under 80 years. It is therefore 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.

In relation to leasehold conveyancing in Woburn Sands what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Woburn Sands. Most leases are individual and drafting errors can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:

• 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.
• Service charge per centages that don't add up correctly leaving a shortfall

You may encounter 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. Accord Mortgages Ltd, Skipton Building Society, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.

Woburn Sands Conveyancing for Leasehold Flats - Sample of Queries before Purchasing

How much is the ground rent and service charge? What prohibitions exist in the Woburn Sands Lease?