Guaranteed fixed fees for Leasehold Conveyancing in Arlesey

Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Arlesey, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Common questions relating to Arlesey leasehold conveyancing

I am on look out for some leasehold conveyancing in Arlesey. Before diving in I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and most are in Arlesey - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I would like to rent out my leasehold flat in Arlesey. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Notwithstanding that your last Arlesey conveyancing solicitor is no longer available you can review your lease to check if it allows you to sublet the apartment. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you must seek permission via your landlord or some other party in advance of subletting. This means you not allowed to sublet in the absence of first obtaining permission. Such consent should not be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Arlesey. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Arlesey ?

Most houses in Arlesey are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Arlesey so you should seriously consider looking for a Arlesey conveyancing practitioner and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example 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 communal areas where the house is part of an estate. Your solicitor should report to you on the legal implications.

I am a negotiator for a reputable estate agent office in Arlesey where we have experienced a number of leasehold sales jeopardised due to short leases. I have been given conflicting advice from local Arlesey conveyancing firms. Could you clarify whether the seller of a flat can start the lease extension formalities for the buyer?

As long as the seller has been the owner 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 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 simultaneously with 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.

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £450000 flat in Arlesey in just under a week. The freeholder has quoted £396 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Arlesey?

For the majority of leasehold sales in Arlesey 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 questions
  • Where consent is required before sale in Arlesey
  • Supplying insurance information
  • Deeds of covenant upon sale
  • Registering of the assignment of the change of lessee after a sale
Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Arlesey leasehold premises is £350. For Arlesey 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 obliged to supply the information.

I am the registered owner of a split level flat in Arlesey, conveyancing was carried out 8 years ago. How much will my lease extension cost? Similar properties in Arlesey with a long lease are worth £200,000. The ground rent is £55 invoiced every year. The lease expires on 21st October 2092

With only 68 years left to run the likely cost is going to range between £11,400 and £13,200 plus professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns 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 based on this information without first seeking the advice of a professional.

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Lease Extensions in Arlesey