Experts for Leasehold Conveyancing in Benson

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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Benson, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Sample questions relating to Benson leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Benson. Before diving in I would like to find out the remaining lease term.

Assuming the lease is registered - and most are in Benson - 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 would like to let out my leasehold apartment in Benson. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Even though your last Benson conveyancing lawyer is no longer around you can check your lease to see if you are permitted to let out the property. The rule is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek consent from your landlord or other appropriate person prior to subletting. The net result is you not allowed to sublet in the absence of prior permission. The consent must not not be unreasonably turned down. If the lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.

Looking forward to exchange soon on a leasehold property in Benson. Conveyancing solicitors have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

  • The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • Defining your rights in respect of the communal areas in the building.For instance, does the lease contain a right of way over an accessway or staircase?
  • Whether the lease restricts you from letting out the property, or having a home office for business
  • Whether your lease has a provision for a sinking fund?
  • Changes to the flat (alterations and additions)
  • 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
  • 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. For details of the information to be contained in your report on your leasehold property in Benson please ask your lawyer in ahead of your conveyancing in Benson

    • I have just started marketing my 2 bed apartment in Benson.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge demand – what should I do?

    Your conveyancing lawyer is likely to suggest that you should clear the service charge 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.

    Can you provide any top tips for leasehold conveyancing in Benson from the point of view of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Benson can be reduced where you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information which will be required by the purchasers’ conveyancers.
    • The majority freeholders or managing agents in Benson charge for supplying management packs for a leasehold property. You or your lawyers should find out 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 obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Benson.
  • Some Benson leases require Licence to Assign from the landlord. If this applies to your lease, 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 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share document. Arranging a new share certificate can be a lengthy process and frustrates many a Benson conveyancing deal. Where a reissued share certificate is required, 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 left on your lease but it would be wise to double-check by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is below 80 years. In the circumstances it is important at an as soon as possible that you identify 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 am the registered owner of a studio flat in Benson, conveyancing formalities finalised 2006. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Benson with a long lease are worth £169,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease ceases on 21st October 2098

    With just 72 years left to run the likely cost is going to range between £11,400 and £13,200 as well as costs.

    The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Benson