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

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

Questions and Answers: Wolston leasehold conveyancing

I have recently realised that I have 62 years remaining on my lease in Wolston. I now want to extend my lease but my landlord is can not be found. What should I do?

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 mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to track down the freeholder. For most situations a specialist would be useful to conduct investigations and to produce an expert document to be used as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s absence and the application to the County Court covering Wolston.

I’m about to sell my ground floor flat in Wolston.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear the service charge 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 until 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. This will smooth the conveyancing process.

Back In 2007, I bought a leasehold flat in Wolston. Conveyancing and Barclays Direct mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Wolston who acted for me is not around.Any advice?

The first thing you should do is contact the Land Registry to be sure that this person is indeed the new freeholder. It is not necessary to instruct a Wolston conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Do you have any advice for leasehold conveyancing in Wolston with the intention of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Wolston can be reduced where you appoint lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers representatives.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Wolston state that internal structural alterations or laying down wooden flooring require a licence from the Landlord approving such works. Should you dont have the approvals in place do not communicate with the landlord without checking with your solicitor before hand.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unsettled.
  • If you hold a share in a the Management Company, you should ensure that you have the original share document. Obtaining a duplicate share certificate is often a lengthy process and slows down many a Wolston home move. If a new share certificate is needed, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this 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 remaining number of years is below 75 years. It is therefore essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • In relation to leasehold conveyancing in Wolston what are the most frequent lease problems?

    There is nothing unique about leasehold conveyancing in Wolston. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. 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

    You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Bank of Scotland, and Platform Home Loans Ltd all have very detailed 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 grant the mortgage, obliging the buyer to withdraw.

    I own a 2 bed flat in Wolston, conveyancing formalities finalised in 2011. Can you work out an approximate cost of a lease extension? Comparable flats in Wolston with an extended lease are worth £221,000. The average or mid-range amount of ground rent is £45 levied per year. The lease finishes on 21st October 2089

    With only 64 years remaining on your lease the likely cost is going to range between £15,200 and £17,600 as well as professional fees.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Wolston