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Common questions relating to Bournemouth leasehold conveyancing

I am on look out for some leasehold conveyancing in Bournemouth. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Bournemouth - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

My fiance and I may need to sub-let our Bournemouth 1st floor flat for a while due to taking a sabbatical. We instructed a Bournemouth conveyancing practice in 2003 but they have since shut and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?

Even though your last Bournemouth conveyancing solicitor is not available you can check your lease to check if you are permitted to let out the apartment. The rule is that if the lease is non-specific, subletting is allowed. There may be a precondition that you must seek consent from your landlord or other appropriate person before subletting. This means that you cannot sublet without first obtaining permission. The consent should not be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

There are only 68 years remaining on my flat in Bournemouth. I now want to extend my lease but my freeholder is can not be found. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have used your best endeavours to locate the lessor. For most situations an enquiry agent would be helpful to carry out a search and to produce a report to be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s absence and the application to the County Court covering Bournemouth.

Do you have any top tips for leasehold conveyancing in Bournemouth from the perspective of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Bournemouth can be bypassed where you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers lawyers.
  • The majority landlords or Management Companies in Bournemouth charge for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding 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 cause of frustration in leasehold conveyancing in Bournemouth.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you installed wooden flooring? Bournemouth leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence from the Landlord consenting to such works. If you dont have the approvals in place you should not contact the landlord without contacting your lawyer in advance.
  • Some Bournemouth leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents 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 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 buyers or their lawyers.
  • If you have had any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. 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 will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to ongoing.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £175000 garden flat in Bournemouth on Wednesday in a week. The managing agents has quoted £372 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Bournemouth?

    Bournemouth conveyancing on leasehold maisonettes often necessitates the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address these enquiries most will be willing to assist. They may invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee levied by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, without which the charge is technically not due. Reality however dictates that one has little option but to pay whatever is demanded should you wish to complete the sale of your home.

    I purchased a ground floor flat in Bournemouth, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Bournemouth with an extended lease are worth £193,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ceases on 21st October 2099

    You have 74 years remaining on your lease we estimate the price of your lease extension to span between £10,500 and £12,000 plus professional fees.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures 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 based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Bournemouth