Fixed-fee leasehold conveyancing in Silsoe:

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Recently asked questions relating to Silsoe leasehold conveyancing

I only have Seventy years unexpired on my lease in Silsoe. I am keen to get lease extension but my landlord is missing. What options are available to me?

On the basis that 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 for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have used your best endeavours to locate the landlord. In some cases an enquiry agent may be helpful to conduct investigations and prepare an expert document to be used as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Silsoe.

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Silsoe. Conveyancing advisers have are about to be appointed. Will they explain the issues?

Most houses in Silsoe are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Silsoe in which case you should be looking for a Silsoe conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your solicitor should appraise you on the various issues.

I am tempted by the attractive purchase price for a couple of maisonettes in Silsoe which have in the region of forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the saleability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders may be reluctant 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 area

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

  • Much of the delay in leasehold conveyancing in Silsoe can be bypassed if you appoint lawyers the minute your agents start advertising the 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 Silsoe 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 information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Silsoe.
  • A minority of Silsoe leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are able to meet 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have had conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be concerned about purchasing a property where a dispute is unresolved. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over as opposed to unresolved.
  • You may think that you are aware of the number of years left on your lease but you should verify this by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to where the remaining number of years is less than 80 years. It is therefore essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • We expect to complete the sale of our £225000 maisonette in Silsoe next Monday . The freeholder has quoted £348 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Silsoe?

    Silsoe conveyancing on leasehold flats more often than not involves the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be content to assist. They are at liberty charge a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it exceeds £800. The administration charge invoiced by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, otherwise the invoice is not strictly payable. Reality however dictates that you have little option but to pay whatever is demanded should you wish to complete the sale of your home.

    I acquired a studio flat in Silsoe, conveyancing formalities finalised in 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Silsoe with over 90 years remaining are worth £187,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease expires on 21st October 2077

    With only 52 years left to run we estimate the price of your lease extension to be between £35,200 and £40,600 as well as legals.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional 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 without first getting professional advice.

    Other Topics

    Lease Extensions in Silsoe