Fixed-fee leasehold conveyancing in Woodcote:

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When it comes to leasehold conveyancing in Woodcote, you will need to chose a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Halifax, Birmingham Midshires or Nationwide make sure you find a lawyer on their approved list. Find a Woodcote conveyancing lawyer with our search tool

Woodcote leasehold conveyancing Example Support Desk Enquiries

I’m about to sell my garden apartment in Woodcote.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is clear the invoice 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. Having a clear account will assist your cause and will leave you no worse off financially.

I today plan to offer on a house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Woodcote. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Woodcote ?

Most houses in Woodcote are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Woodcote so you should seriously consider shopping around for a Woodcote conveyancing practitioner and be sure that they are used to dealing with 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 to the property. The lease will likely included provisions such as requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should advise you fully on all the issues.

I am a negotiator for a long established estate agency in Woodcote where we have experienced a few leasehold sales put at risk due to short leases. I have been given contradictory information from local Woodcote conveyancing firms. Can you shed some light as to whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

Do you have any advice for leasehold conveyancing in Woodcote from the perspective of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Woodcote can be avoided where you instruct lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ representatives.
  • The majority landlords or Management Companies in Woodcote charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Woodcote.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Woodcote state that internal structural changes or addition of wooden flooring calls for a licence from the Landlord consenting to such alterations. Should you dont have the consents to hand you should not communicate with the landlord without checking with your lawyer in advance.
  • If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share certificate. Organising a new share certificate is often a time consuming formality and slows down many a Woodcote home move. Where a new share is needed, you should approach 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 remaining on your lease but you should verify this by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is under 80 years. It is therefore important 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 property on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £450000 maisonette in Woodcote in just under a week. The freeholder has quoted £420 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Woodcote?

    Woodcote conveyancing on leasehold maisonettes often involves the purchaser’s lawyer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions most will be content to assist. They may levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge levied by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, otherwise the invoice is not strictly payable. In reality you have little choice but to pay whatever is requested of you should you wish to complete the sale of your home.

    Woodcote Leasehold Conveyancing - Sample of Questions you should consider before Purchasing

      Please note that where the lease has fewer than eighty years it will affect the value of the apartment. Check with your bank that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will probably require a lease extension at some point and it is worth discovering how much this will be. Remember, in most cases you would be required to have owned the residence for two years before you are entitled to exercise a lease extension. Are any of leasehold owners in arrears of their service charge liability? Best to be warned if changing the roof or some other significant cost is coming up that will be shared by the tenants and will dramatically impact the level of the maintenance fees or necessitate a one off invoice.

    Other Topics

    Lease Extensions in Woodcote