Looking forward to complete next month on a basement flat in Bradley Stoke. Conveyancing solicitors assured me that they report fully next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Bradley Stoke should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

The total extent of the demise. This will be the flat itself but might incorporate a loft or basement if appropriate.

Does the lease require carpeting throughout thus preventing wood flooring?

An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has

Changes to the flat (alterations and additions)

The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.

What you can do if a neighbour breach a clause of their lease? For details of the information to be contained in your report on your leasehold property in Bradley Stoke please ask your conveyancer in advance of your conveyancing in Bradley Stoke

I work for a reputable estate agency in Bradley Stoke where we have witnessed a few flat sales put at risk as a result of short leases. I have received inconsistent advice from local Bradley Stoke conveyancing solicitors. Can you shed some light as to whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner 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 proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

An alternative approach is 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 purchaser.

What are your top tips when it comes to choosing a Bradley Stoke conveyancing firm to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Bradley Stoke conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Bradley Stoke conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

• If they are not ALEP accredited then why not?

What are the charges for lease extension conveyancing?

Can you provide any top tips for leasehold conveyancing in Bradley Stoke from the perspective of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Bradley Stoke can be bypassed where you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the buyers lawyers.
• The majority freeholders or managing agents in Bradley Stoke charge for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Bradley Stoke.

If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Bradley Stoke state that internal structural changes or laying down wooden flooring require a licence from the Landlord consenting to such alterations. Where you dont have the paperwork to hand do not contact the landlord without contacting your lawyer in the first instance.

A minority of Bradley Stoke leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.

You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is less than 80 years. In the circumstances it is important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

All being well we will complete the disposal of our £450000 maisonette in Bradley Stoke on Tuesday in a week. The management company has quoted £300 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Bradley Stoke?

Bradley Stoke conveyancing on leasehold maisonettes normally necessitates administration charges raised by landlords agents :

• Completing pre-contract enquiries
• Where consent is required before sale in Bradley Stoke
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Bradley Stoke leasehold premises is £350. For Bradley Stoke 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 provide the information.

Bradley Stoke Leasehold Conveyancing - Examples of Questions you should ask before Purchasing

It is important to be aware if window replacement or some other major work is due in the near future that will be shared between the leaseholders and could well materially impact the level of the maintenance costs or require a one time payment. How is the lease structured? The prefered form of lease structure is a share of the freehold. In this arrangement the lessees have control and even though a managing agent is usually retained if it is larger than a house conversion, the managing agent employed by the leaseholders.

Other Topics

Lease Extensions in Bradley Stoke