Experts for Leasehold Conveyancing in Chaddesden

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Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Chaddesden, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Questions and Answers: Chaddesden leasehold conveyancing

I have just appointed agents to market my ground floor flat in Chaddesden.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – what should I do?

It best that you 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.

Back In 2006, I bought a leasehold flat in Chaddesden. Conveyancing and The Mortgage Works mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Chaddesden who previously acted has now retired.What should I do?

First contact 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 Chaddesden conveyancing practitioner to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Can you offer any advice when it comes to appointing a Chaddesden conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Chaddesden conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Chaddesden conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

  • How familiar is the firm with lease extension legislation?
  • Can they put you in touch with client in Chaddesden who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Chaddesden with the aim of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Chaddesden can be reduced if you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers lawyers.
    • If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example installed wooden flooring? Chaddesden leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord consenting to such works. Should you dont have the approvals in place do not communicate with the landlord without checking with your solicitor first.
  • A minority of Chaddesden leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You will have to accept that you will have to pay 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 prior to 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 better to reveal the dispute as historic rather than ongoing.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is less than 80 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • What makes a Chaddesden lease unmortgageable?

    Leasehold conveyancing in Chaddesden is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the premises
    • 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. National Westminster Bank, Skipton Building Society, and Godiva Mortgages Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.

    Chaddesden Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing

      How long is the Lease? Is the freehold owned collectively by the tenants? You will want to find out as much as you can concerning the managing agents as they can either make your living at the property much simpler or problematic. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to day to day matters such as the cleanliness of the communal areas. Ask other people whether they are happy with their service. Finally, find out the dates that the service fees are due to the relevant party and specifically what it includes.

    Other Topics

    Lease Extensions in Chaddesden