Fixed-fee leasehold conveyancing in Bradley Stoke:

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

Top Five Questions relating to Bradley Stoke leasehold conveyancing

Due to sign contracts shortly on a basement flat in Bradley Stoke. Conveyancing lawyers assured me that they report fully next week. What should I be looking out for?

Your 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, freeholder
  • You need to be told what counts as a Nuisance in the lease
  • Repair and maintenance of the flat
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • 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.
  • Responsibility for repairing the window frames
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Bradley Stoke please enquire of your lawyer in ahead of your conveyancing in Bradley Stoke

    • I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Bradley Stoke. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

    The majority of houses in Bradley Stoke are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Bradley Stoke so you should seriously consider shopping around for a Bradley Stoke conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your lawyer will appraise you on the various issues.

    I am looking at a two maisonettes in Bradley Stoke which have in the region of 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?

    A lease is a right to use the property for a period of time. As a lease gets shorter the saleability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area

    I work for a long established estate agency in Bradley Stoke where we have witnessed a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Bradley Stoke conveyancing firms. Please can you confirm whether the owner of a flat can instigate the lease extension process for the buyer?

    As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

    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 buyer.

    Do you have any advice 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 if you instruct lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ conveyancers.
    • In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Bradley Stoke state that internal structural changes or installing wooden flooring necessitate a licence from the Landlord consenting to such changes. Should you dont have the approvals in place you should not contact the landlord without contacting your lawyer first.
  • If you have had conflict with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to present the dispute as historic rather than ongoing.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Obtaining a replacement share certificate is often a lengthy process and frustrates many a Bradley Stoke home move. If a duplicate share certificate is necessary, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. In the circumstances it is essential at an as soon as possible 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.

    • I invested in buying a leasehold flat in Bradley Stoke, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Bradley Stoke with over 90 years remaining are worth £228,000. The ground rent is £60 charged once a year. The lease expires on 21st October 2105

    With only 79 years remaining on your lease we estimate the price of your lease extension to span between £9,500 and £11,000 plus costs.

    The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Bradley Stoke