Fixed-fee leasehold conveyancing in Wotton under Edge:

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Wotton under Edge leasehold conveyancing Example Support Desk Enquiries

I have recently realised that I have 62 years unexpired on my flat in Wotton under Edge. I am keen to extend my lease but my freeholder is absent. What are my options?

If 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 lengthened by the magistrate. However, you will be required to prove that you have made all reasonable attempts to track down the landlord. For most situations an enquiry agent should be helpful to conduct investigations and to produce an expert document which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s disappearance and the application to the County Court covering Wotton under Edge.

I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Wotton under Edge. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Wotton under Edge ?

The majority of houses in Wotton under Edge are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Wotton under Edge in which case you should be shopping around for a Wotton under Edge conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer should report to you on the legal implications.

What are your top tips when it comes to finding a Wotton under Edge conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a Wotton under Edge conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Wotton under Edge 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 useful:

  • If the firm is not ALEP accredited then why not?
  • How many lease extensions has the firm carried out in Wotton under Edge in the last year?

    • Do you have any top tips for leasehold conveyancing in Wotton under Edge with the aim of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Wotton under Edge can be reduced where you instruct lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the buyers solicitors.
    • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Wotton under Edge state that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. If you fail to have the paperwork to hand you should not contact the landlord without checking with your solicitor first.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a flat where a dispute is unsettled. You will have to accept that you will have to pay any arrears of service charge or settle 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 will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to unsettled.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share certificate. Obtaining a replacement share certificate is often a lengthy process and frustrates many a Wotton under Edge conveyancing deal. If a new share certificate is needed, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check via your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. In the circumstances it is 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 home on the market for sale.

    • In relation to leasehold conveyancing in Wotton under Edge what are the most frequent lease defects?

    There is nothing unique about leasehold conveyancing in Wotton under Edge. All leases are individual and drafting errors can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the building
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, The Mortgage Works, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to pull out.

    I own a studio flat in Wotton under Edge, conveyancing formalities finalised in 2001. Can you work out an approximate cost of a lease extension? Equivalent flats in Wotton under Edge with a long lease are worth £185,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease finishes on 21st October 2103

    With just 78 years remaining on your lease we estimate the price of your lease extension to be between £9,500 and £11,000 plus costs.

    The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Wotton under Edge