Experts for Leasehold Conveyancing in Aldridge

When it comes to leasehold conveyancing in Aldridge, you will need to chose a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Lloyds, Birmingham Midshires or NatWest be sure to find a lawyer on their approved list. Find a Aldridge conveyancing lawyer with our search tool

Questions and Answers: Aldridge leasehold conveyancing

My fiance and I may need to rent out our Aldridge garden flat for a while due to a career opportunity. We instructed a Aldridge conveyancing practice in 2004 but they have since shut and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?

Some leases for properties in Aldridge 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 consent.

Due to exchange soon on a ground floor flat in Aldridge. Conveyancing lawyers have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

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

  • How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • The physical extent of the premises. This will be the flat itself but could also include a roof space or basement if appropriate.
  • Are you allowed to have a pet in the flat?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • You should have a good understanding of the insurance provisions
  • What options are open to you if a neighbour is in violation of a provision in their lease?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Aldridge please enquire of your solicitor in advance of your conveyancing in Aldridge

  • I have just started marketing my 2 bed flat in Aldridge.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – what should I do?

    Your conveyancing lawyer is likely to suggest that you should 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.

    I am a negotiator for a busy estate agent office in Aldridge where we have experienced a number of flat sales put at risk as a result of short leases. I have been given inconsistent advice from local Aldridge conveyancing solicitors. Please can you confirm whether the owner of a flat can start the lease extension process for the buyer?

    As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

    Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

    Completion in due on the sale of our £375000 garden flat in Aldridge next Thursday . The managing agents has quoted £360 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Aldridge?

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

    • Addressing pre-contract questions
    • Where consent is required before sale in Aldridge
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Aldridge leasehold property is £350. For Aldridge 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 the information.

    I bought a 1st floor flat in Aldridge, conveyancing formalities finalised in 2012. Can you work out an approximate cost of a lease extension? Similar properties in Aldridge with a long lease are worth £263,000. The average or mid-range amount of ground rent is £60 yearly. The lease finishes on 21st October 2087

    With just 62 years left to run the likely cost is going to range between £20,900 and £24,200 as well as professional fees.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.

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    Lease Extensions in Aldridge