Experts for Leasehold Conveyancing in Fleet

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Questions and Answers: Fleet leasehold conveyancing

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Looking forward to complete next month on a garden flat in Fleet. Conveyancing solicitors assured me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Setting out your legal entitlements in relation to common areas in the block.By way of example, does the lease grant a right of way over a path or hallways?
  • Whether the lease restricts you from subletting the flat, or having a home office for business
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • You should have a good understanding of the insurance provisions
  • What the implications are if you breach a clause of your lease?
For a comprehensive list of information to be contained in your report on your leasehold property in Fleet please enquire of your conveyancer in advance of your conveyancing in Fleet

I today plan to offer on a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Fleet. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

Most houses in Fleet are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Fleet in which case you should be looking for a Fleet conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer should appraise you on the various issues.

Can you offer any advice when it comes to choosing a Fleet conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Fleet conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Fleet conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

  • If the firm is not ALEP accredited then what is the reason?
  • What volume of lease extensions has the firm conducted in Fleet in the last twenty four months?

Do you have any advice for leasehold conveyancing in Fleet from the perspective of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Fleet can be reduced where you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the buyers conveyancers.
  • The majority landlords or managing agents in Fleet charge for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Fleet.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Fleet state that internal structural changes or installing wooden flooring require a licence issued by the Landlord consenting to such changes. If you fail to have the paperwork in place do not contact the landlord without checking with your conveyancer in advance.
  • A minority of Fleet leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying 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 buyers or their lawyers.
  • You believe that you know the number of years left on your lease but you should verify this via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 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 premises on the market for sale.

Completion in due on the sale of our £ 300000 maisonette in Fleet next week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Fleet?

For most leasehold sales in Fleet conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

  • Answering pre-exchange enquiries
  • Where consent is required before sale in Fleet
  • Supplying insurance information
  • Deeds of covenant upon sale
  • Registering of the assignment of the change of lessee after a sale
Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Fleet leasehold premises is £350. For Fleet conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply answers.

I inherited a split level flat in Fleet, conveyancing having been completed 7 years ago. Can you work out an approximate cost of a lease extension? Similar properties in Fleet with an extended lease are worth £220,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease finishes on 21st October 2098

With only 72 years unexpired the likely cost is going to be between £12,400 and £14,200 plus professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.