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

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When it comes to leasehold conveyancing in Oakwood, you will need to chose a conveyancing solicitor with leasehold experience. Whether your lender is to be Clydesdale , Yorkshire Building Society or NatWest be sure to find a lawyer on their approved list. Find a Oakwood conveyancing lawyer with our search tool

Examples of recent questions relating to leasehold conveyancing in Oakwood

Having had my offer accepted I require leasehold conveyancing in Oakwood. Before I get started I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and 99.9% are in Oakwood - 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 today plan to offer on a house that appears to be perfect, at a great figure which is making it more attractive. I have just been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Oakwood. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Oakwood ?

Most houses in Oakwood are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Oakwood in which case you should be shopping around for a Oakwood conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your lawyer should advise you fully on all the issues.

Back In 2008, I bought a leasehold house in Oakwood. Conveyancing and Halifax mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Oakwood who acted for me is not around.Any advice?

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. It is not necessary to instruct a Oakwood conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

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

If you are instructing a conveyancer for lease extension works (regardless if they are a Oakwood conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Oakwood conveyancing practices before you 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?
  • What are the legal fees for lease extension conveyancing?

    • Can you provide any top tips for leasehold conveyancing in Oakwood from the perspective of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Oakwood can be avoided if you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information which will be required by the buyers lawyers.
    • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Oakwood leases often stipulate that internal structural alterations or laying down wooden flooring require a licence from the Landlord consenting to such alterations. Where you dont have the approvals to hand do not contact the landlord without checking with your lawyer before hand.
  • Some Oakwood leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain 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 purchasers or their lawyers.
  • If you are supposed to have a share in the Management Company, you should make sure that you have the original share document. Obtaining a replacement share certificate can be a lengthy formality and frustrates many a Oakwood conveyancing deal. If a duplicate share certificate is required, do contact the company officers or managing agents (where applicable) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but it would be advisable double-check by asking your conveyancers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 75 years. It is therefore essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I bought a leasehold flat in Oakwood, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Oakwood with an extended lease are worth £230,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease finishes on 21st October 2088

    With only 63 years remaining on your lease we estimate the premium for your lease extension to span between £18,100 and £20,800 as well as costs.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Oakwood