Fixed-fee leasehold conveyancing in Bottesford:

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When it comes to leasehold conveyancing in Bottesford, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Lloyds, Yorkshire Building Society or Bradford & Bingley make sure you choose a lawyer on their panel. Feel free to use our search tool

Recently asked questions relating to Bottesford leasehold conveyancing

Frank (my husband) and I may need to rent out our Bottesford 1st floor flat temporarily due to taking a sabbatical. We used a Bottesford conveyancing firm in 2002 but they have since shut and we did not have the foresight to get any advice as to whether the lease allows us to sublet. How do we find out?

Your lease dictates the relationship between the landlord and you the leaseholder; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Bottesford do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

Due to exchange soon on a ground floor flat in Bottesford. Conveyancing solicitors inform me that they report fully tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Bottesford should include some of the following:

  • The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • Whether your lease has a provision for a sinking fund?
  • Changes to the flat (alterations and additions)
  • 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 options are open to you if a neighbour breach a clause of their lease?
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Bottesford please enquire of your solicitor in advance of your conveyancing in Bottesford

    • Estate agents have just been given the go-ahead to market my garden flat in Bottesford.Conveyancing has not commenced but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

    Your conveyancing lawyer is likely to suggest that you should clear 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. Having a clear account will assist your cause and will leave you no worse off financially.

    What advice can you give us when it comes to appointing a Bottesford conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a conveyancer for your lease extension (regardless if they are a Bottesford conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Bottesford conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

    • If the firm is not ALEP accredited then what is the reason?
  • How many lease extensions has the firm carried out in Bottesford in the last year?

    • Do you have any advice for leasehold conveyancing in Bottesford from the perspective of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Bottesford can be reduced where you appoint lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ representatives.
    • Many landlords or Management Companies in Bottesford charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Bottesford.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Bottesford state that internal structural changes or laying down wooden flooring require a licence issued by the Landlord acquiescing to such works. If you dont have the paperwork to hand you should not contact the landlord without contacting your conveyancer in the first instance.
  • Some Bottesford leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share certificate. Obtaining a new share certificate can be a time consuming formality and frustrates many a Bottesford conveyancing transaction. If a new share is needed, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.

    • I am the registered owner of a 2 bed flat in Bottesford, conveyancing formalities finalised 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Bottesford with an extended lease are worth £260,000. The ground rent is £50 invoiced every year. The lease ends on 21st October 2083

    With just 57 years remaining on your lease we estimate the premium for your lease extension to span between £32,300 and £37,400 as well as professional fees.

    The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Bottesford