Fixed-fee leasehold conveyancing in Bletchley:

When it comes to leasehold conveyancing in Bletchley, you will need to appoint a conveyancing practitioner with leasehold experience. Whether your lender is to be Santander, Birmingham Midshires or Bradford & Bingley be sure to choose a lawyer on their approved list. Feel free to use our search tool

Questions and Answers: Bletchley leasehold conveyancing

I would like to sublet my leasehold apartment in Bletchley. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Even though your previous Bletchley conveyancing solicitor is not around you can check your lease to see if it allows you to sublet the apartment. The accepted inference is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you need to seek consent from your landlord or other appropriate person prior to subletting. The net result is you not allowed to sublet without first obtaining permission. Such consent must not not be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

I have just started marketing my garden flat in Bletchley.Conveyancing has not commenced but I have just received a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should pay 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 am looking at a two apartments in Bletchley both have about forty five years remaining on the leases. Do I need to be concerned?

There is no doubt about it. A leasehold apartment in Bletchley is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of purchasers and lenders, leases with less than 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 property 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 Bletchley 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 the agreed 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 choosing a Bletchley conveyancing firm to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Bletchley conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Bletchley conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • How experienced is the firm with lease extension legislation?
  • Can they put you in touch with client in Bletchley who can give a testimonial?

  • If all goes to plan we aim to complete the disposal of our £500000 flat in Bletchley next week. The freeholder has quoted £396 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Bletchley?

    Bletchley conveyancing on leasehold flats normally necessitates the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to address such questions the majority will be content to assist. They may levy a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee invoiced by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the invoice is technically not due. Reality however dictates that you have little option but to pay whatever is requested of you if you want to sell the property.

    Leasehold Conveyancing in Bletchley - Sample of Questions you should consider Prior to Purchasing

      What is the annual service fee and ground rent? Best to be warned whether fixing the lift or some other significant cost is anticipated that will be shared amongst the leasehold owners and will materially impact the level of the service charges or require a specific payment. Is anyone aware of any major works in the planning that will likely add a premium to the service charges?

    Other Topics

    Lease Extensions in Bletchley