Fixed-fee leasehold conveyancing in Bletchley:

Leasehold conveyancing in Bletchley is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Bletchley and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Bletchley leasehold conveyancing: Q and A’s

I have recently realised that I have 62 years left on my flat in Bletchley. I need to get lease extension but my landlord is can not be found. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to prove that you or your lawyers have used your best endeavours to find the lessor. In some cases an enquiry agent should be useful to carry out a search and prepare a report to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Bletchley.

I've found a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Bletchley. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Bletchley ?

Most houses in Bletchley are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Bletchley in which case you should be looking for a Bletchley conveyancing practitioner and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your lawyer should advise you fully on all the issues.

I've recently bought a leasehold flat in Bletchley. Do I have any liability for service charges relating to a period prior to completion of my purchase?

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. Strange as it may seem, 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).

Do you have any advice for leasehold conveyancing in Bletchley from the perspective of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Bletchley can be avoided where you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information which will be required by the purchasers’ solicitors.
  • Many freeholders or Management Companies in Bletchley charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Bletchley.
  • Some Bletchley leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 purchasers or their solicitors.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a property where a dispute is ongoing. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unresolved.
  • If you hold a share in a the freehold, you should ensure that you are holding the original share document. Arranging a re-issued share certificate can be a lengthy process and frustrates many a Bletchley home move. Where a duplicate share is needed, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.

  • If all goes to plan we aim to complete the sale of our £325000 garden flat in Bletchley in 5 days. The managing agents has quoted £312 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Bletchley?

    For most leasehold sales in Bletchley conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

    • Addressing conveyancing due diligence questions
    • Where consent is required before sale in Bletchley
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Bletchley leasehold premises is £350. For Bletchley conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply the information.

    I acquired a ground floor flat in Bletchley, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Bletchley with an extended lease are worth £184,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease terminates on 21st October 2097

    You have 75 years remaining on your lease the likely cost is going to range between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Bletchley