Fixed-fee leasehold conveyancing in Victoria Dock:

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Leasehold conveyancing in Victoria Dock is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Victoria Dock and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Frequently asked questions relating to Victoria Dock leasehold conveyancing

Planning to exchange soon on a ground floor flat in Victoria Dock. 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 Victoria Dock should include some of the following:

  • You should receive a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • 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
  • Responsibility for repairing the window frames For a comprehensive list of information to be included in your report on your leasehold property in Victoria Dock please ask your solicitor in ahead of your conveyancing in Victoria Dock

    • I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Victoria Dock. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Victoria Dock ?

    The majority of houses in Victoria Dock are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Victoria Dock so you should seriously consider shopping around for a Victoria Dock conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’sconsent to conduct alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your solicitor will appraise you on the various issues.

    I own a leasehold flat in Victoria Dock. Conveyancing and Godiva Mortgages Ltd mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Victoria Dock who previously acted has now retired.Any advice?

    First contact HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to instruct a Victoria Dock conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am looking at a couple of maisonettes in Victoria Dock which have about 50 years left on the leases. Will this present a problem?

    There is no doubt about it. A leasehold flat in Victoria Dock is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. For most purchasers and banks, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Victoria Dock conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

    Can you provide any advice for leasehold conveyancing in Victoria Dock from the point of view of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Victoria Dock can be bypassed if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the buyers representatives.
    • Some Victoria Dock leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are resolved prior to the flat being marketed. 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 settle 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 buyers, but it is better to present the dispute as historic rather than unsettled.
  • If you hold a share in a the Management Company, you should ensure that you are holding the original share document. Arranging a new share certificate can be a lengthy process and slows down many a Victoria Dock home move. If a duplicate share is needed, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is important at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I invested in buying a 2 bed flat in Victoria Dock, conveyancing having been completed 9 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 Victoria Dock with a long lease are worth £269,000. The average or mid-range amount of ground rent is £50 yearly. The lease ends on 21st October 2101

    You have 76 years remaining on your lease the likely cost is going to range between £12,400 and £14,200 plus plus your own and the landlord's "reasonable" professional fees.

    The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account 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 Victoria Dock