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

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Leasehold conveyancing in Allestree is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Allestree and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Sample questions relating to Allestree leasehold conveyancing

I am on look out for some leasehold conveyancing in Allestree. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.

If the lease is recorded at the land registry - and 99.9% are in Allestree - then the leasehold title will always include the short particulars 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 own a leasehold house in Allestree. Conveyancing and Barclays mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Allestree who previously acted has now retired.What should I do?

The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Allestree conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold property in Allestree. Am I liable to pay service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What advice can you give us when it comes to appointing a Allestree conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Allestree conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Allestree conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

  • If they are not ALEP accredited then why not?
  • Can they put you in touch with client in Allestree who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in Allestree from the perspective of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Allestree can be reduced if you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold information needed by the purchasers’ representatives.
    • The majority freeholders or managing agents in Allestree charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought 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 cause of delay in leasehold conveyancing in Allestree.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Allestree state that internal structural changes or installing wooden flooring necessitate a licence from the Landlord acquiescing to such changes. Where you fail to have the paperwork to hand do not communicate with the landlord without contacting your solicitor in the first instance.
  • 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 marketed. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may need to swallow your pride and discharge any arrears of service charge or settle 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 buyers, but it is clearly preferable to present the dispute as over rather than unresolved.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Organising a replacement share certificate can be a lengthy formality and slows down many a Allestree conveyancing transaction. Where a duplicate share certificate is necessary, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later.

    • I invested in buying a 1 bedroom flat in Allestree, conveyancing having been completed in 2000. How much will my lease extension cost? Equivalent properties in Allestree with an extended lease are worth £170,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease expires on 21st October 2091

    With 67 years left to run we estimate the price of your lease extension to be between £13,300 and £15,400 as well as costs.

    The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Allestree