Fixed-fee leasehold conveyancing in Bamber Bridge:

Get a Quote

While any conveyancing practice can theoretically handle your leasehold conveyancing in Bamber Bridge, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Questions and Answers: Bamber Bridge leasehold conveyancing

I am in need of some leasehold conveyancing in Bamber Bridge. Before diving in I want to be sure as to the remaining lease term.

Assuming the lease is recorded at the land registry - and almost all are in Bamber Bridge - then the leasehold title will always include the basic details 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 am hoping to exchange soon on a ground floor flat in Bamber Bridge. Conveyancing lawyers inform me that they report fully tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Bamber Bridge should include some of the following:

  • You should be sent a copy of the lease
  • The physical extent of the demise. This will be the flat itself but could also incorporate a loft or basement if appropriate.
  • Whether your lease has a provision for a reserve fund?
  • Repair and maintenance of the flat
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • What options are open to you if a neighbour breach a clause of their lease? For details of the information to be included in your report on your leasehold property in Bamber Bridge please enquire of your solicitor in advance of your conveyancing in Bamber Bridge

    • Last month I purchased a leasehold house in Bamber Bridge. Am I liable to pay service charges relating to a period prior to my ownership?

    Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    What are your top tips when it comes to finding a Bamber Bridge conveyancing firm to deal with our lease extension?

    When appointing a property lawyer for lease extension works (regardless if they are a Bamber Bridge conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Bamber Bridge conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

    • If the firm is not ALEP accredited then what is the reason?
  • What are the legal fees for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in Bamber Bridge from the point of view of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Bamber Bridge can be bypassed where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information needed by the purchasers’ conveyancers.
    • If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Bamber Bridge state that internal structural changes or installing wooden flooring require a licence issued by the Landlord approving such works. Should you fail to have the consents to hand do not contact the landlord without checking with your lawyer before hand.
  • A minority of Bamber Bridge leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 have the benefit of shareholding in the freehold, you should make sure that you are holding the original share document. Organising a duplicate share certificate is often a time consuming formality and slows down many a Bamber Bridge conveyancing transaction. If a new share is necessary, you should approach the company officers or managing agents (if applicable) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but you should verify this by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I acquired a 1 bedroom flat in Bamber Bridge, conveyancing formalities finalised 1997. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Bamber Bridge with over 90 years remaining are worth £255,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease runs out on 21st October 2099

    With 74 years unexpired we estimate the price of your lease extension to range between £11,400 and £13,200 as well as costs.

    The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Bamber Bridge