Fixed-fee leasehold conveyancing in Allestree:

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Common questions relating to Allestree leasehold conveyancing

There are only 72 years remaining on my flat in Allestree. I need to extend my lease but my landlord is missing. What options are available to me?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to locate the lessor. In some cases an enquiry agent would be useful to carry out a search and prepare an expert document which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the vesting order request to the County Court covering Allestree.

I have just started marketing my 2 bed apartment in Allestree.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is clear 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've found a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Allestree. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Allestree ?

The majority of houses in Allestree are freehold rather than 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 clear that you are purchasing in Allestree in which case you should be looking for a Allestree conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your lawyer should advise you fully on all the issues.

I work for a busy estate agent office in Allestree where we see a number of leasehold sales jeopardised due to short leases. I have been given contradictory information from local Allestree conveyancing solicitors. Could you shed some light as to whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, 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 purchaser.

What are your top tips when it comes to appointing a Allestree conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Allestree conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Allestree conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

  • How many lease extensions have they completed in Allestree in the last 12 months?
  • Can they put you in touch with client in Allestree who can give a testimonial?

  • I own a 1st floor flat in Allestree, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Allestree with a long lease are worth £179,000. The ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2074

    With only 50 years left to run the likely cost is going to span between £39,000 and £45,000 plus legals.

    The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Allestree