Guaranteed fixed fees for Leasehold Conveyancing in Bishopston

When it comes to leasehold conveyancing in Bishopston, you will need to appoint a conveyancing practitioner with leasehold experience. Whether your lender is to be Halifax, Yorkshire Building Society or NatWest make sure you choose a lawyer on their panel. Feel free to use our search tool

Questions and Answers: Bishopston leasehold conveyancing

My fiance and I may need to let out our Bishopston ground floor flat temporarily due to taking a sabbatical. We instructed a Bishopston conveyancing practice in 2004 but they have closed and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?

A lease governs relations between the freeholder and you the leaseholder; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Bishopston do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

I only have 62 years unexpired on my lease in Bishopston. I need to get lease extension but my freeholder is missing. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. In some cases a specialist should be helpful to conduct investigations and prepare a report which can be used as proof that the landlord can not be located. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Bishopston.

Estate agents have just been given the go-ahead to market my 2 bed flat in Bishopston.Conveyancing lawyers have not yet been instructed but I have just received a quarterly maintenance charge demand – Do I pay up?

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. Having a clear account will assist your cause and will leave you no worse off financially.

I've recently bought a leasehold flat in Bishopston. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I work for a busy estate agent office in Bishopston where we see a number of leasehold sales jeopardised as a result of short leases. I have been given conflicting advice from local Bishopston conveyancing solicitors. Can you confirm whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

I invested in buying a ground floor flat in Bishopston, conveyancing was carried out 2005. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Bishopston with a long lease are worth £251,000. The average or mid-range amount of ground rent is £45 per annum. The lease comes to an end on 21st October 2076

With just 54 years left to run we estimate the price of your lease extension to span between £34,200 and £39,600 plus costs.

The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.

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Lease Extensions in Bishopston