Fixed-fee leasehold conveyancing in Wootton Bridge:

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Wootton Bridge leasehold conveyancing Example Support Desk Enquiries

I am in need of some leasehold conveyancing in Wootton Bridge. Before I get started I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and 99.9% are in Wootton Bridge - 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 just started marketing my 2 bed flat in Wootton Bridge.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – what should I do?

It best that you pay 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.

I've found a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Wootton Bridge. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Wootton Bridge ?

The majority of houses in Wootton Bridge are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Wootton Bridge so you should seriously consider looking for a Wootton Bridge conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee 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. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer will appraise you on the various issues.

My wife and I purchased a leasehold house in Wootton Bridge. Conveyancing and Chelsea Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Wootton Bridge who acted for me is not around.What should I do?

The first thing you should do is make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Wootton Bridge conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Can you provide any top tips for leasehold conveyancing in Wootton Bridge from the point of view of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Wootton Bridge can be avoided if you appoint lawyers the minute you market your property and ask them to put together the leasehold information needed by the buyers conveyancers.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Wootton Bridge leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord acquiescing to such alterations. If you dont have the consents in place do not communicate with the landlord without contacting your conveyancer in advance.
  • Some Wootton Bridge leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If you have had conflict with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be warry about purchasing a property where a dispute is unsettled. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 purchasers, but it is clearly preferable to present the dispute as over rather than unsettled.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share document. Obtaining a replacement share certificate is often a time consuming formality and slows down many a Wootton Bridge home move. If a new share is needed, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.

    • I inherited a 1 bedroom flat in Wootton Bridge, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Wootton Bridge with an extended lease are worth £255,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease ceases on 21st October 2094

    You have 69 years unexpired we estimate the premium for your lease extension to be between £11,400 and £13,200 as well as professional fees.

    The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Wootton Bridge