Quality lawyers for Leasehold Conveyancing in Stony Stratford

Get a Quote

Whether you are buying or selling leasehold flat in Stony Stratford, our panel of leasehold conveyancing experts will help you move with as little stress as possible. Find a Stony Stratford conveyancing lawyer with our search tool

Common questions relating to Stony Stratford leasehold conveyancing

Frank (my husband) and I may need to sub-let our Stony Stratford garden flat temporarily due to taking a sabbatical. We used a Stony Stratford conveyancing practice in 2001 but they have since shut and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?

Even though your last Stony Stratford conveyancing solicitor is no longer available you can check your lease to check if you are permitted to let out the premises. The rule is that if the lease is non-specific, subletting is permitted. There may be a precondition that you must obtain permission via your landlord or other appropriate person before subletting. This means that you cannot sublet in the absence of prior permission. Such consent must not not be unreasonably withheld. If the lease prohibits you from letting out the property you should ask your landlord for their consent.

My wife and I purchased a leasehold flat in Stony Stratford. Conveyancing and Chelsea Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Stony Stratford who acted for me is not around.Do I pay?

First contact HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Stony Stratford conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of flats in Stony Stratford which have approximately 50 years remaining on the leases. Do I need to be concerned?

There are plenty of short leases in Stony Stratford. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the marketability of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this field

What are your top tips when it comes to appointing a Stony Stratford conveyancing firm to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Stony Stratford conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Stony Stratford conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

  • If they are not ALEP accredited then why not?
  • What are the legal fees for lease extension work?

    • Can you provide any top tips for leasehold conveyancing in Stony Stratford from the point of view of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Stony Stratford can be reduced if you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ representatives.
    • Many landlords or Management Companies in Stony Stratford charge for supplying management packs for a leasehold property. You or your lawyers should discover 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 receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Stony Stratford.
  • Some Stony Stratford 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 financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 clearly preferable to reveal the dispute as historic rather than unsettled.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. It is therefore important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • Stony Stratford Leasehold Conveyancing - Examples of Questions you should ask before Purchasing

      Is there a share of the freehold? On the whole the cost for major works are not built into the service charges, albeit that there some managing agents in Stony Stratford obliged leasehold owners to contribute towards a sinking fund created for the specific purpose of establishing a fund for larger works. Be sure to find out if the the lease includes any adverse restrictions in the lease. For instance plenty of leases prohibit pets being allowed in in a block in Stony Stratford. If you like the flatin Stony Stratford however your dog is not allowed to make the move with you then you will be faced difficult determination.

    Other Topics

    Lease Extensions in Stony Stratford