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

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Sample questions relating to Woburn Sands leasehold conveyancing

I am in need of some leasehold conveyancing in Woburn Sands. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

If the lease is registered - and 99.9% are in Woburn Sands - then the leasehold title will always include the short particulars 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.

My partner and I may need to let out our Woburn Sands basement flat for a while due to taking a sabbatical. We used a Woburn Sands conveyancing practice in 2001 but they have closed and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Woburn Sands do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

Last month I purchased a leasehold property in Woburn Sands. Do I have any liability for service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous lessee 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 ensure 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).

If all goes to plan we aim to complete the sale of our £325000 flat in Woburn Sands in 8 days. The managing agents has quoted £396 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Woburn Sands?

Woburn Sands conveyancing on leasehold flats normally involves the buyer’s lawyer submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries most will be content to assist. They are at liberty invoice a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some transactions it is in excess of £800. The administration charge demanded by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, otherwise the charge is not strictly payable. In reality one has little choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

What makes a Woburn Sands lease problematic?

Leasehold conveyancing in Woburn Sands is not unique. Most leases are unique and drafting errors can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

  • Repairing obligations to or maintain parts of the building
  • A duty to insure the building
  • Clauses dealing with recovering service charges for expenditure on the building or common parts.
  • Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Chelsea Building Society, and Nottingham Building Society all have express 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 pull out.

Woburn Sands Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing

    On the whole the outlay for major works tend not to be included within maintenance charges, albeit that some managing agents in Woburn Sands ask tenants to pay into a sinking fund created for the specific intention of establishing a fund for larger repairs or maintenance. What is the name of the managing agents? You should want to find out as much as you can about the company managing the building as they can either make living at the property much easier or a lot more difficult. Being a leasehold owner you are frequently at the mercy of the managing agents from a financial perspective and when it comes to every day matters such as the cleanliness of the common parts. Ask other people what they think of their service. Finally, find out the dates that you are obliged pay the service charge to the managing agents and precisely what you get for your money.

Other Topics

Lease Extensions in Woburn Sands