Fixed-fee leasehold conveyancing in Woldingham:

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While any conveyancing practice can theoretically handle your leasehold conveyancing in Woldingham, 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 Woldingham

I only have Seventy years unexpired on my lease in Woldingham. I now want to extend my lease but my freeholder is missing. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to prove that you have used your best endeavours to track down the lessor. On the whole an enquiry agent may be useful to carry out a search and to produce a report to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s absence and the application to the County Court covering Woldingham.

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Woldingham. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Woldingham ?

Most houses in Woldingham are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Woldingham in which case you should be looking for a Woldingham conveyancing practitioner and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer should advise you fully on all the issues.

I am looking at a couple of apartments in Woldingham which have in the region of fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Woldingham is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the value of the property. The majority of buyers and banks, leases with under 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Woldingham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

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

When appointing a property lawyer for lease extension works (regardless if they are a Woldingham conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Woldingham conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • How familiar is the practice with lease extension legislation?
  • What are the charges for lease extension work?

    • Can you provide any advice for leasehold conveyancing in Woldingham from the perspective of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Woldingham can be bypassed if you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the purchasers’ solicitors.
    • The majority landlords or Management Companies in Woldingham levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Woldingham.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Woldingham state that internal structural changes or addition of wooden flooring calls for a licence from the Landlord consenting to such works. Where you dont have the paperwork to hand do not contact the landlord without checking with your conveyancer before hand.
  • If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share certificate. Organising a re-issued share certificate can be a lengthy process and slows down many a Woldingham home move. If a reissued share certificate is required, do contact the company director and secretary or managing agents (if relevant) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I have given up trying to purchase the freehold in Woldingham. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Most certainly. We are happy to put you in touch with a Woldingham conveyancing firm who can help.

    An example of a Freehold Enfranchisement case for a Woldingham residence is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case affected 3 flats. The the unexpired residue of the current lease was 75 years.

    Other Topics

    Lease Extensions in Woldingham