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

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When it comes to leasehold conveyancing in Toddington, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your lender is to be Lloyds, Yorkshire Building Society or Bradford & Bingley make sure you find a lawyer on their panel. Feel free to use our search tool

Toddington leasehold conveyancing: Q and A’s

I wish to let out my leasehold flat in Toddington. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

A small minority of properties in Toddington do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I have just appointed agents to market my ground floor apartment in Toddington.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is pay the service charge 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 recently bought a leasehold flat in Toddington. Am I liable to pay service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any top tips for leasehold conveyancing in Toddington with the aim of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Toddington can be reduced where you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information which will be required by the purchasers’ conveyancers.
  • Many freeholders or managing agents in Toddington levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Toddington.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Toddington leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord consenting to such works. Should you dont have the approvals to hand you should not communicate with the landlord without contacting your lawyer in the first instance.
  • If there is a history of any disputes with your landlord 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 reluctant to purchase a property where a dispute is unresolved. You may have to bite the bullet and 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 are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as historic rather than unsettled.
  • If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share document. Arranging a re-issued share certificate is often a time consuming formality and slows down many a Toddington home move. If a new share certificate is needed, you should approach the company director and secretary or managing agents (if applicable) for this sooner rather than later.

    • What makes a Toddington lease problematic?

    There is nothing unique about leasehold conveyancing in Toddington. All leases are individual and drafting errors 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 parts of the property
    • A duty to insure the building
    • 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 may encounter 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, The Mortgage Works, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.

    Toddington Leasehold Conveyancing - A selection of Questions you should ask before buying

      How many of the leaseholders are in arrears for their service charge payments? The best form of lease structure is if the freehold reversion is in the ownership of the leaseholders. In this arrangement the leaseholders benefit from control and notwithstanding that a managing agent is usually employed where it is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Does the lease contain onerous restrictions?

    Other Topics

    Lease Extensions in Toddington