Fixed-fee leasehold conveyancing in Kirkby:

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

Frequently asked questions relating to Kirkby leasehold conveyancing

There are only 62 years unexpired on my flat in Kirkby. I now want to get lease extension but my landlord is absent. What are my options?

If you meet the appropriate requirements, 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 Court. However, you will be required to demonstrate that you have made all reasonable attempts to track down the freeholder. For most situations a specialist should be helpful to conduct investigations and prepare a report to be used as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Kirkby.

Estate agents have just been given the go-ahead to market my ground floor flat in Kirkby.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge invoice – Do I pay up?

It best that you discharge 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 management companies will not acknowledge the buyer unless 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 am looking at a couple of flats in Kirkby which have in the region of 50 years remaining on the leases. Will this present a problem?

A lease is a right to use the premises for a period of time. As the lease gets shorter the value of the lease decreases and it becomes more expensive to extend the lease. For this reason it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this area

Can you provide any top tips for leasehold conveyancing in Kirkby from the perspective of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Kirkby can be reduced if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers solicitors.
  • Many freeholders or Management Companies in Kirkby charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack 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 cause of delay in leasehold conveyancing in Kirkby.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Kirkby state that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord acquiescing to such changes. If you fail to have the consents in place you should not contact the landlord without checking with your solicitor first.
  • Some Kirkby leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share document. Obtaining a new share certificate can be a lengthy process and delays many a Kirkby conveyancing deal. Where a duplicate share certificate is required, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later.

    • Are there common defects that you come across in leases for Kirkby properties?

    Leasehold conveyancing in Kirkby is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the property
    • Insurance obligations
    • 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 could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Bank of Scotland, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.

    Kirkby Leasehold Conveyancing - Sample of Queries before Purchasing

      Many Kirkby leasehold properties will have a service charge for the upkeep of the building invoiced by the landlord. If you buy the property you will have to pay this charge, usually in instalments throughout the year. This may vary from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a ground rent for you to pay yearly, ordinarily this is not a significant figure, say approximately £25-£75 but you need to enquire it because occasionally it can be many hundreds of pounds. How many of the leaseholders are in arrears for their service charge payments? You should be aware that where the lease has fewer than eighty years it will impact the salability of the apartment. Check with your lender that they are willing to go ahead with the loan given the lease term. A short lease means that you will probably need a lease extension at some point and you need to have some idea of how much this would cost. For most Kirkbylease extensions you would need to own the premises for two years before you are eligible to extend the lease.

    Other Topics

    Lease Extensions in Kirkby