Fixed-fee leasehold conveyancing in Badminton:

Get a Quote

When it comes to leasehold conveyancing in Badminton, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Halifax, Birmingham Midshires or NatWest make sure you choose a lawyer on their panel. Find a Badminton conveyancing lawyer with our search tool

Badminton leasehold conveyancing: Q and A’s

There are only Seventy years unexpired on my flat in Badminton. I am keen to extend my lease but my landlord is absent. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you have used your best endeavours to locate the lessor. On the whole a specialist may be helpful to carry out a search and to produce 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 devolving into the landlord’s absence and the vesting order request to the County Court overseeing Badminton.

I am looking at a couple of maisonettes in Badminton which have approximately forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a period of time. As a lease shortens the saleability of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena

I work for a busy estate agent office in Badminton where we have witnessed a number of leasehold sales put at risk due to short leases. I have been given contradictory information from local Badminton conveyancing firms. Please can you shed some light as to whether the owner of a flat can instigate 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 sit tight for 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 sale.

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 buyer.

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

When appointing a solicitor for lease extension works (regardless if they are a Badminton conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Badminton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

  • If the firm is not ALEP accredited then what is the reason?
  • How many lease extensions have they carried out in Badminton in the last 12 months?

    • Do you have any top tips for leasehold conveyancing in Badminton with the aim of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Badminton can be bypassed if you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers lawyers.
    • The majority landlords or managing agents in Badminton charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Badminton.
  • A minority of Badminton 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you hold a share in a the Management Company, you should ensure that you hold the original share document. Organising a duplicate share certificate can be a lengthy formality and slows down many a Badminton home move. If a new share certificate is necessary, you should approach the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. It is therefore essential 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.

    • I invested in buying a 1 bedroom flat in Badminton, conveyancing having been completed 2001. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Badminton with a long lease are worth £215,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease runs out on 21st October 2089

    With 65 years left to run the likely cost is going to span between £14,300 and £16,400 plus costs.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Badminton