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Leasehold conveyancing in Bedford 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 Bedford and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Bedford leasehold conveyancing: Q and A’s

I only have Sixty One years remaining on my lease in Bedford. I need to extend my lease but my freeholder is missing. 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 an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to locate the freeholder. On the whole a specialist would be helpful to try and locate and prepare an expert document to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Bedford.

I own a leasehold house in Bedford. Conveyancing and Barnsley Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Bedford who previously acted has now retired.What should I do?

The first thing you should do is contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to instruct a Bedford conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a two maisonettes in Bedford both have approximately forty five years unexpired on the lease term. should I be concerned?

There are plenty of short leases in Bedford. The lease is a right to use the property for a prescribed time frame. As a lease shortens the saleability of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena

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

  • A significant proportion of the delay in leasehold conveyancing in Bedford can be reduced if 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.
  • The majority freeholders or Management Companies in Bedford levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover 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 receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Bedford.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a flat 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 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 details of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than unresolved.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share certificate. Organising a new share certificate is often a time consuming process and slows down many a Bedford conveyancing deal. Where a duplicate share certificate is necessary, you should approach the company director and secretary or managing agents (if applicable) 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 verify this by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. It is therefore important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • What makes a Bedford lease problematic?

    There is nothing unique about leasehold conveyancing in Bedford. All leases are individual and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the building
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You could 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. HSBC Bank, Norwich and Peterborough Building Society, and Barclays Direct 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 defective they may refuse to provide security, forcing the buyer to withdraw.

    Bedford Conveyancing for Leasehold Flats - Examples of Queries Prior to buying

      This question is helpful as a) areas could cause problems in the building as the communal areas may start to deteriorate if maintenance are not paid for b) if the leasehold owners have an issue with the managing agents you will wish to have complete disclosure Plenty Bedford leasehold properties will be liable to pay a service bill for maintenance of the block levied on behalf of the freeholder. Where you acquire the apartment you will have to meet this contribution, usually periodically throughout the year. This may vary from two or three hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent for you to pay yearly, this is usually not a exorbitant sum, say approximately £50-£100 but you need to check as sometimes it could be surprisingly expensive. Its a good idea to find out as much as you can concerning the company managing the block as they will either make your living at the property much easier or uncomfortable. As the proprietor of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to daily matters such as the upkeep of the common parts. Enquire of other tenants if they are happy with them. In conclusion, be sure you know the dates that the maintenance fees are due to the managing agents and precisely what you get for your money.

    Other Topics

    Lease Extensions in Bedford