Quality lawyers for Leasehold Conveyancing in Stony Stratford

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When it comes to leasehold conveyancing in Stony Stratford, you will need to appoint a conveyancing lawyer with leasehold experience. Whether your lender is to be Lloyds, Birmingham Midshires or Bradford & Bingley make sure you choose a lawyer on their approved list. Feel free to use our search tool

Sample questions relating to Stony Stratford leasehold conveyancing

Due to complete next month on a ground floor flat in Stony Stratford. Conveyancing lawyers inform me that they report fully tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Stony Stratford should include some of the following:

  • The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
  • The total extent of the premises. This will be the property itself but might incorporate a roof space or basement if appropriate.
  • You should be told what counts as a Nuisance in the lease
  • Whether your lease has a provision for a sinking fund?
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For details of the information to be contained in your report on your leasehold property in Stony Stratford please ask your conveyancer in advance of your conveyancing in Stony Stratford

    • I’m about to sell my ground floor apartment in Stony Stratford.Conveyancing has not commenced but I have just received a yearly maintenance charge invoice – what should I do?

    Your conveyancing lawyer is likely to suggest that you should 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 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. This will smooth the conveyancing process.

    I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Stony Stratford. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

    The majority of houses in Stony Stratford are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Stony Stratford in which case you should be looking for a Stony Stratford conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being 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 alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your conveyancer should appraise you on the various issues.

    Do you have any advice for leasehold conveyancing in Stony Stratford with the aim of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Stony Stratford can be bypassed where you get in touch lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the buyers solicitors.
    • If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Stony Stratford state that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such works. Where you fail to have the consents to hand do not contact the landlord without contacting your conveyancer in the first instance.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and discharge 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 ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to unresolved.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Obtaining a re-issued share certificate is often a lengthy process and delays many a Stony Stratford conveyancing transaction. Where a duplicate share is required, do contact the company officers or managing agents (where relevant) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but you should verify this via your lawyers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. It is therefore essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Are there frequently found deficiencies that you witness in leases for Stony Stratford properties?

    There is nothing unique about leasehold conveyancing in Stony Stratford. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. 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
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, The Royal Bank of Scotland, and Britannia all have express requirements 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.

    Stony Stratford Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying

      It would be wise to enquire if the the lease contains any adverse restrictions in the lease. For example it is fairly common in Stony Stratford leases that pets are not permitted in certain buildings in Stony Stratford. If you love the propertyin Stony Stratford yet your dog can’t move with you then you will be presented with a hard determination. How is the lease structured? For most Stony Stratford leaseholds the cost for major works tend not to be included within maintenance charges, although some managing agents in Stony Stratford obliged tenants to contribute towards a reserve fund created for the specific purpose of establishing a fund for larger works.

    Other Topics

    Lease Extensions in Stony Stratford