Fixed-fee leasehold conveyancing in Bedminster:

When it comes to leasehold conveyancing in Bedminster, you will need to appoint a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Santander, Birmingham Midshires or NatWest be sure to find a lawyer on their approved list. Find a Bedminster conveyancing lawyer with our search tool

Bedminster leasehold conveyancing: Q and A’s

I am on look out for some leasehold conveyancing in Bedminster. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Bedminster - then the leasehold title will always include the short particulars 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 would like to sublet my leasehold flat in Bedminster. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Notwithstanding that your previous Bedminster conveyancing solicitor is no longer around you can check your lease to check if you are permitted to let out the premises. The accepted inference is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you must obtain consent from your landlord or some other party prior to subletting. The net result is you not allowed to sublet in the absence of first obtaining consent. The consent should not be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord for their consent.

I've found a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Bedminster. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Bedminster ?

The majority of houses in Bedminster are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Bedminster so you should seriously consider looking for a Bedminster conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor should appraise you on the various issues.

I am attracted to a two maisonettes in Bedminster which have approximately forty five years remaining on the leases. Will this present a problem?

There is no doubt about it. A leasehold flat in Bedminster is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the value of the premises. The majority of purchasers and banks, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Bedminster conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Can you offer any advice when it comes to appointing a Bedminster conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Bedminster conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Bedminster conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

  • If they are not ALEP accredited then why not?
  • How many lease extensions has the firm conducted in Bedminster in the last 12 months?

  • I inherited a split level flat in Bedminster, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Bedminster with over 90 years remaining are worth £241,000. The average or mid-range amount of ground rent is £60 yearly. The lease terminates on 21st October 2081

    With just 57 years remaining on your lease we estimate the price of your lease extension to span between £25,700 and £29,600 plus legals.

    The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Bedminster