Fixed-fee leasehold conveyancing in Bartley Green:

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Examples of recent questions relating to leasehold conveyancing in Bartley Green

Planning to sign contracts shortly on a basement flat in Bartley Green. Conveyancing lawyers assured me that they report fully on Monday. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Bartley Green should include some of the following:

  • You should receive a copy of the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Whether your lease has a provision for a sinking fund?
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Responsibility for repairing the window frames
  • What options are open to you if a neighbour breach a clause of their lease?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Bartley Green please ask your lawyer in ahead of your conveyancing in Bartley Green

  • I am looking at a two maisonettes in Bartley Green both have about forty five years remaining on the leases. Will this present a problem?

    A lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the value of the lease reduces and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this area

    What advice can you give us when it comes to choosing a Bartley Green conveyancing practice to deal with our lease extension?

    When appointing a property lawyer for your lease extension (regardless if they are a Bartley Green conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Bartley Green conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

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

  • Do you have any advice for leasehold conveyancing in Bartley Green from the perspective of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Bartley Green can be reduced where you get in touch lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the buyers conveyancers.
    • The majority freeholders or managing agents in Bartley Green charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Bartley Green.
  • Some Bartley Green leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual 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 lawyers.
  • If there is a history of conflict 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 warry about purchasing a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. 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 details of the dispute to the purchasers, but it is better to present the dispute as over rather than ongoing.
  • If you are supposed to have a share in the Management Company, you should ensure that you hold the original share certificate. Arranging a duplicate share certificate is often a lengthy formality and frustrates many a Bartley Green home move. If a reissued share is needed, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.

  • If all goes to plan we aim to complete our sale of a £450000 apartment in Bartley Green next Friday . The managing agents has quoted £324 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Bartley Green?

    Bartley Green conveyancing on leasehold flats usually involves the buyer’s solicitor sending enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be content to do so. They may levy a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some situations it exceeds £800. The management information fee levied by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, otherwise the charge is technically not due. In reality one has no option but to pay whatever is requested of you should you wish to sell the property.

    Bartley Green Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying

      What is the name of the managing agents? What is the service charge and ground rent on the flat? The prefered form of lease structure is where the freehold title is in the ownership of the leaseholders. In this scenario the lessees benefit from being in charge if their destiny and notwithstanding that a managing agent is often retained if it is bigger than a house conversion, the managing agent acts for the leaseholders themselves.

    Other Topics

    Lease Extensions in Bartley Green