Fixed-fee leasehold conveyancing in Bridport:

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Leasehold conveyancing in Bridport is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Bridport and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Recently asked questions relating to Bridport leasehold conveyancing

Expecting to exchange soon on a ground floor flat in Bridport. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

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

  • How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The physical extent of the property. This will be the flat itself but could also incorporate a loft or cellar if appropriate.
  • Whether your lease has a provision for a sinking fund?
  • Repair and maintenance of the flat
  • 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? For details of the information to be included in your report on your leasehold property in Bridport please enquire of your solicitor in advance of your conveyancing in Bridport

    • Can you offer any advice when it comes to appointing a Bridport conveyancing firm to deal with our lease extension?

    When appointing a property lawyer for your lease extension (regardless if they are a Bridport conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Bridport conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

    • Can they put you in touch with client in Bridport who can give a testimonial?
  • What are the legal fees for lease extension work?

    • Do you have any advice for leasehold conveyancing in Bridport with the intention of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Bridport can be avoided if you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold information needed by the buyers solicitors.
    • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Bridport state that internal structural alterations or addition of wooden flooring require a licence from the Landlord acquiescing to such changes. If you dont have the paperwork in place you should not contact the landlord without checking with your lawyer before hand.
  • Some Bridport leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is 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 buyers or their lawyers.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be nervous about purchasing a flat where a dispute is ongoing. You may have to bite the bullet and pay 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 prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to ongoing.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share certificate. Organising a duplicate share certificate is often a time consuming formality and slows down many a Bridport home move. Where a new share certificate is required, do contact the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.

    • If all goes to plan we aim to complete the disposal of our £200000 garden flat in Bridport next week. The landlords agents has quoted £348 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Bridport?

    Bridport conveyancing on leasehold apartments usually involves the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to respond to such questions the majority will be content to do so. They are at liberty levy a reasonable administration fee for responding to questions 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 cases it exceeds £800. The management information fee levied by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the invoice is not strictly payable. In reality one has little option but to pay whatever is requested of you if you want to complete the sale of your home.

    What makes a Bridport lease unmortgageable?

    There is nothing unique about leasehold conveyancing in Bridport. Most leases are individual and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the property
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, The Royal Bank of Scotland, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.

    Bridport Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing

      Please note that where the lease has fewer than 80 years it will impact the marketability of the apartment. It is worth checking with your bank that they are happy with the length of the lease. Leases with less than 80 years remaining means that you will probably require a lease extension sooner rather than later and you need to have some idea of what this would cost. For most Bridportlease extensions you would be be obliged to have owned the residence for two years before you are eligible to exercise a lease extension. The answer will be important as a) areas can result in problems in the block as the common areas may begin to deteriorate where repairs remain unpaid b) if the tenants have a dispute with the managing agents you will want to know about it How much is the ground rent and service charge?

    Other Topics

    Lease Extensions in Bridport