Fixed-fee leasehold conveyancing in Cambridge:

Leasehold conveyancing in Cambridge 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 Cambridge and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Cambridge leasehold conveyancing Example Support Desk Enquiries

I am intending to let out my leasehold apartment in Cambridge. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Even though your previous Cambridge conveyancing lawyer is not available you can check your lease to check if it allows you to sublet the property. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek consent via your landlord or other appropriate person before subletting. The net result is you not allowed to sublet in the absence of prior consent. The consent should not be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

I work for a reputable estate agent office in Cambridge where we see a few flat sales put at risk as a result of short leases. I have been given inconsistent advice from local Cambridge conveyancing firms. Can you clarify whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease 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 can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

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.

What advice can you give us when it comes to finding a Cambridge conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a Cambridge conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Cambridge conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

  • If they are not ALEP accredited then why not?
  • What are the charges for lease extension work?

  • Do you have any advice for leasehold conveyancing in Cambridge from the point of view of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Cambridge can be bypassed where you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ representatives.
    • Many freeholders or managing agents in Cambridge charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have 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 reason for delay in leasehold conveyancing in Cambridge.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or settle 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 will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unsettled.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share certificate. Obtaining a duplicate share certificate is often a lengthy process and frustrates many a Cambridge home move. Where a duplicate share certificate is necessary, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but it would be wise to double-check by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is less than 75 years. In the circumstances it is important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

  • What are the common deficiencies that you witness in leases for Cambridge properties?

    Leasehold conveyancing in Cambridge is not unique. Most leases are individual and drafting errors can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the property
    • A duty to insure the building
    • 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

    A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Bank of Scotland, and Barclays Direct all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.

    Leasehold Conveyancing in Cambridge - Sample of Queries Prior to Purchasing

      The prefered form of lease arrangement is a share of the freehold. In this situation the lessees have control and notwithstanding that a managing agent is usually employed where it is larger than a house conversion, the managing agent acts for the leaseholders themselves. Generally speaking the outlay for major works tend not to be wrapped into the service charges, although some managing agents in Cambridge obliged leaseholders to contribute towards a sinking fund and this is used to offset against larger repairs or maintenance. Is there a share of the freehold?

    Other Topics

    Lease Extensions in Cambridge