Fixed-fee leasehold conveyancing in Bromham:

Get a Quote

When it comes to leasehold conveyancing in Bromham, you will need to appoint a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Halifax, RBS or Bradford & Bingley be sure to choose a lawyer on their approved list. Find a Bromham conveyancing lawyer with our search tool

Questions and Answers: Bromham leasehold conveyancing

I wish to sublet my leasehold flat in Bromham. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Notwithstanding that your last Bromham conveyancing solicitor is no longer around you can check your lease to check if it allows you to sublet the apartment. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you need to seek consent via your landlord or other appropriate person prior to subletting. This means that you cannot sublet without first obtaining permission. The consent should not be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you should ask your landlord for their consent.

I am attracted to a couple of apartments in Bromham which have approximately 50 years unexpired on the lease term. Do I need to be concerned?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena

I am a negotiator for a busy estate agency in Bromham where we have experienced a number of leasehold sales derailed due to leases having less than 80 years remaining. I have been given conflicting advice from local Bromham conveyancing firms. Can you confirm whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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 top tips for leasehold conveyancing in Bromham from the point of view of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Bromham can be reduced where you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
  • Many freeholders or managing agents in Bromham levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack 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 common cause of frustration in leasehold conveyancing in Bromham.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Bromham state that internal structural changes or installing wooden flooring calls for a licence from the Landlord acquiescing to such changes. Should you fail to have the paperwork in place you should not contact the landlord without contacting your lawyer in advance.
  • Some Bromham leases require Licence to Assign from the landlord. 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 should make it clear that the buyer is financially capable of paying 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 buyers or their lawyers.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share certificate. Obtaining a duplicate share certificate can be a time consuming formality and frustrates many a Bromham conveyancing transaction. If a duplicate share certificate is needed, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.

    • We expect to complete our sale of a £150000 flat in Bromham on Tuesday in a week. The freeholder has quoted £300 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Bromham?

    Bromham conveyancing on leasehold flats often necessitates the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be content to assist. They are entitled charge a reasonable charge for answering 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 above £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, otherwise the charge is technically not due. In reality one has no option but to pay whatever is demanded if you want to exchange contracts with the buyer.

    Bromham Leasehold Conveyancing - Sample of Queries before Purchasing

      What is the maintenance charge and ground rent on the property? What is the name of the managing agents? Can you inform me if there are any major works on the horizon that could increase the maintenance costs?

    Other Topics

    Lease Extensions in Bromham