Guaranteed fixed fees for Leasehold Conveyancing in Beckermet

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Recently asked questions relating to Beckermet leasehold conveyancing

I have just started marketing my basement flat in Beckermet.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge invoice – what should I do?

The sensible thing to do is discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am attracted to a two maisonettes in Beckermet which have in the region of forty five years left on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the value of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena

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

When appointing a conveyancer for your lease extension (regardless if they are a Beckermet conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Beckermet conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • How familiar is the practice with lease extension legislation?
  • Can they put you in touch with client in Beckermet who can give a testimonial?

  • Can you provide any top tips for leasehold conveyancing in Beckermet with the aim of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Beckermet can be avoided where you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
    • Many landlords or managing agents in Beckermet levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Beckermet.
  • If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Beckermet state that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord acquiescing to such alterations. If you dont have the approvals in place you should not contact the landlord without contacting your conveyancer first.
  • Some Beckermet leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any 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 lawyers.
  • You may think that you are aware of the number of years left on your lease but you should verify this by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is below 80 years. In the circumstances it is important 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 property on the market for sale.

  • All being well we will complete the disposal of our £275000 flat in Beckermet on Monday in a week. The landlords agents has quoted £336 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Beckermet?

    Beckermet conveyancing on leasehold apartments often involves the purchaser’s lawyer submitting questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to assist. They are entitled levy a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, otherwise the invoice is not strictly payable. Reality however dictates that you have no choice but to pay whatever is requested of you should you wish to sell the property.

    Leasehold Conveyancing in Beckermet - A selection of Questions you should ask Prior to buying

      Many Beckermet leasehold flats will be liable to pay a service charge for maintenance of the building invoiced on behalf of the landlord. If you purchase the apartment you will have to meet this contribution, usually periodically accross the year. This may differ from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a rentcharge to be met annual, this is usually not a significant figure, say about £25-£75 but you need to check it because sometimes it can be many hundreds of pounds. You should be aware if it is less than eighty years it will have adverse implications on the marketability of the property. Check with your lender that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of how much this would cost. Remember, in most cases you will be required to have owned the property for two years in order to be eligible to exercise a lease extension. Who manages the building?

    Other Topics

    Lease Extensions in Beckermet