Fixed-fee leasehold conveyancing in Avonmouth:

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

Avonmouth leasehold conveyancing: Q and A’s

I am intending to rent out my leasehold flat in Avonmouth. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Your lease dictates the relationship between the landlord and you the leaseholder; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Avonmouth do not contain strict prohibition on subletting – such a provision would adversely affect the market value the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

I work for a busy estate agent office in Avonmouth where we have experienced a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Avonmouth conveyancing solicitors. Can you clarify whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease 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. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 advice can you give us when it comes to choosing a Avonmouth conveyancing firm to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Avonmouth conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Avonmouth conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

  • If they are not ALEP accredited then what is the reason?
  • What are the charges for lease extension work?

    • Can you provide any advice for leasehold conveyancing in Avonmouth with the intention of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Avonmouth can be avoided where you instruct lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ representatives.
    • Many landlords or Management Companies in Avonmouth charge for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Avonmouth.
  • Some Avonmouth leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are 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 purchasers or their solicitors.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle 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 purchasers, but it is clearly preferable to present the dispute as over rather than ongoing.
  • You may think that you are aware of the number of years left on your lease but you should double-check by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to where the lease term is under 80 years. In the circumstances it is 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 home on the market for sale.

    • What makes a Avonmouth lease unmortgageable?

    There is nothing unique about leasehold conveyancing in Avonmouth. Most leases are individual and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the premises
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, The Royal Bank of Scotland, and Clydesdale all have very detailed requirements 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 provide security, forcing the purchaser to withdraw.

    Avonmouth Leasehold Conveyancing - Sample of Queries Prior to Purchasing

      This question is useful as a) areas can cause problems in the block as the common areas may start to deteriorate where services remain unpaid b) if the leaseholders have a dispute with the running of the building you will wish to have complete disclosure How much is the ground rent and service charge? You should want to discover as much as you can regarding the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to day to day issues like the cleanliness of the communal areas. Enquire of other people whether they are happy with their management. On a final note, find out the dates that the maintenance charges are due to the appropriate party and specifically how they are spending that money.

    Other Topics

    Lease Extensions in Avonmouth