Guaranteed fixed fees for Leasehold Conveyancing in Birkenhead

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Top Five Questions relating to Birkenhead leasehold conveyancing

Harry (my fiance) and I may need to rent out our Birkenhead 1st floor flat temporarily due to a career opportunity. We instructed a Birkenhead conveyancing practice in 2004 but they have since shut and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?

Even though your last Birkenhead conveyancing lawyer is not available you can review your lease to see if it allows you to sublet the apartment. The accepted inference is that if the deeds are silent, subletting is permitted. There may be a precondition that you need to seek consent via your landlord or some other party prior to subletting. The net result is you not allowed to sublet without prior permission. Such consent must not not be unreasonably withheld. If the lease prohibits you from subletting the property you should ask your landlord for their consent.

Due to complete next month on a basement flat in Birkenhead. Conveyancing lawyers assured me that they report fully next week. Are there areas in the report that I should be focusing on?

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

  • The unexpired lease term You should be advised as what happens when the lease expires, 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 block.For example, does the lease grant a right of way over an accessway or hallways?
  • Are pets allowed in the flat?
  • Does the lease prevent you from subletting the flat, or having a home office for business
  • 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.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Birkenhead please enquire of your solicitor in ahead of your conveyancing in Birkenhead

    • Estate agents have just been given the go-ahead to market my ground floor flat in Birkenhead.Conveyancing has not commenced but I have just received a half-yearly maintenance charge demand – Do I pay up?

    It best that you clear 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 management companies will not acknowledge the buyer unless 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.

    Do you have any advice for leasehold conveyancing in Birkenhead with the intention of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Birkenhead can be reduced if you instruct lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ lawyers.
    • Many landlords or managing agents in Birkenhead levy fees for providing 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 average time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Birkenhead.
  • A minority of Birkenhead leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you hold a share in a the freehold, you should ensure that you are holding the original share certificate. Obtaining a new share certificate can be a time consuming process and frustrates many a Birkenhead home move. Where a duplicate share is necessary, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but it would be advisable verify this by asking your lawyers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 80 years. In the circumstances it is essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • When it comes to leasehold conveyancing in Birkenhead what are the most frequent lease defects?

    There is nothing unique about leasehold conveyancing in Birkenhead. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Bank of Scotland, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.

    I bought a 2 bed flat in Birkenhead, conveyancing was carried out 2004. How much will my lease extension cost? Similar flats in Birkenhead with an extended lease are worth £178,000. The ground rent is £45 levied per year. The lease runs out on 21st October 2105

    With 80 years unexpired we estimate the price of your lease extension to span between £9,500 and £11,000 as well as professional fees.

    The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Birkenhead