Fixed-fee leasehold conveyancing in Westbury Park:

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While any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Westbury Park, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Westbury Park leasehold conveyancing Example Support Desk Enquiries

I want to sublet my leasehold flat in Westbury Park. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Notwithstanding that your previous Westbury Park conveyancing lawyer is not around you can review your lease to check if you are permitted to let out the premises. The accepted inference is that if the deeds are silent, subletting is permitted. There may be a precondition that you need to obtain permission via your landlord or some other party before subletting. This means you not allowed to sublet without prior consent. Such consent is not allowed to be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.

Estate agents have just been given the go-ahead to market my garden apartment in Westbury Park.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge demand – what should I do?

It best that you discharge 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 management companies will not acknowledge the buyer unless 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 am attracted to a two flats in Westbury Park which have about forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Westbury Park is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. The majority of buyers and banks, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 property 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 Westbury Park conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed 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 top tips for leasehold conveyancing in Westbury Park from the point of view of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Westbury Park can be bypassed if you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation needed by the purchasers’ conveyancers.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example installed wooden flooring? Westbury Park leases often stipulate that internal structural changes or installing wooden flooring calls for a licence from the Landlord acquiescing to such works. If you fail to have the approvals in place do not communicate with the landlord without contacting your solicitor first.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may need to swallow your pride and pay 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 will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as over rather than ongoing.
  • If you hold a share in a the Management Company, you should make sure that you have the original share document. Obtaining a replacement share certificate is often a lengthy process and frustrates many a Westbury Park home move. Where a reissued share is needed, do contact the company officers or managing agents (if relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is less than 75 years. In the circumstances it is essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • What makes a Westbury Park lease unacceptable for security purposes?

    Leasehold conveyancing in Westbury Park is not unique. Most leases are unique and drafting errors can result in certain clauses are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the building
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Skipton Building Society, and TSB all have express conveyancing instructions 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 purchaser to pull out.

    Westbury Park Leasehold Conveyancing - Sample of Questions you should ask before Purchasing

      You should want to find out as much as possible concerning the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you are often in the clutches of the managing agents from a financial perspective and when it comes to day to day matters like the tidiness of the communal areas. Don't be afraid to ask other people what they think of their service. On a final note, be sure you understand the dates that you are obliged pay the maintenance charge to the relevant party and precisely what it includes. How many of the leaseholders are in arrears for their service charge payments? The prefered form of lease arrangement is where the freehold reversion is in the ownership of the leaseholders. In this scenario the leaseholders benefit from control and notwithstanding that a managing agent is often employed if it is larger than a house conversion, the managing agent is directed by the tenants.

    Other Topics

    Lease Extensions in Westbury Park