Guaranteed fixed fees for Leasehold Conveyancing in Boldon Colliery

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

Frequently asked questions relating to Boldon Colliery leasehold conveyancing

Estate agents have just been given the go-ahead to market my basement apartment in Boldon Colliery.Conveyancing has not commenced but I have just had a half-yearly service charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should discharge 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 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.

Back In 2006, I bought a leasehold house in Boldon Colliery. Conveyancing and Bank of Scotland mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Boldon Colliery who previously acted has long since retired.What should I do?

First make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Boldon Colliery conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am employed by a long established estate agency in Boldon Colliery where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Boldon Colliery conveyancing solicitors. Can you clarify whether the seller of a flat can commence the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

Alternatively, it may be possible 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 buyer.

Can you provide any advice for leasehold conveyancing in Boldon Colliery from the perspective of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Boldon Colliery can be avoided if you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers solicitors.
  • Many freeholders or managing agents in Boldon Colliery levy fees 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 can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Boldon Colliery.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Boldon Colliery state that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. Should you fail to have the paperwork to hand do not contact the landlord without contacting your solicitor in advance.
  • A minority of Boldon Colliery leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • You believe that you know the number of years remaining on your lease but you should verify this by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is below 75 years. In the circumstances it is essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Completion in due on the disposal of our £275000 flat in Boldon Colliery in 5 days. The landlords agents has quoted £312 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Boldon Colliery?

    Boldon Colliery conveyancing on leasehold apartments more often than not involves the buyer’s lawyer sending questions for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be content to do so. They are at liberty invoice a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The administration charge required by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the charge is not strictly payable. Reality however dictates that one has no option but to pay whatever is requested of you should you wish to sell the property.

    I own a garden flat in Boldon Colliery, conveyancing having been completed in 2002. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Boldon Colliery with an extended lease are worth £217,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease finishes on 21st October 2102

    With only 77 years remaining on your lease the likely cost is going to be between £10,500 and £12,000 as well as legals.

    The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.

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    Lease Extensions in Boldon Colliery