Fixed-fee leasehold conveyancing in Cardigan:

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Cardigan leasehold conveyancing Example Support Desk Enquiries

I want to sublet my leasehold apartment in Cardigan. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

A small minority of properties in Cardigan do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I work for a reputable estate agent office in Cardigan where we have experienced a few flat sales derailed due to short leases. I have received conflicting advice from local Cardigan conveyancing firms. Can you shed some light as to whether the owner of a flat can initiate 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 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 wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with 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 buyer.

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

When appointing a conveyancer for your lease extension (regardless if they are a Cardigan conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Cardigan conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • How familiar is the practice with lease extension legislation?
  • What are the charges for lease extension work?

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

    • Much of the frustration in leasehold conveyancing in Cardigan can be bypassed where you instruct lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information which will be required by the purchasers’ lawyers.
    • Many landlords or Management Companies in Cardigan levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Cardigan.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Cardigan leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord consenting to such changes. Should you fail to have the consents to hand do not contact the landlord without contacting your solicitor first.
  • A minority of Cardigan 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 put in hand bank and professional references. The bank reference should make it clear that the buyer is able to meet 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.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share certificate. Organising a duplicate share certificate is often a time consuming formality and slows down many a Cardigan conveyancing deal. If a duplicate share certificate is required, do contact the company officers or managing agents (if applicable) for this as soon as possible.

    • All being well we will complete the sale of our £400000 apartment in Cardigan next Thursday . The management company has quoted £408 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Cardigan?

    Cardigan conveyancing on leasehold flats normally requires the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is not legally bound to answer these enquiries the majority will be willing to assist. They are at liberty invoice a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge required by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, otherwise the charge is technically not due. Reality however dictates that you have little choice but to pay whatever is requested of you if you want to sell the property.

    Leasehold Conveyancing in Cardigan - Sample of Questions you should consider before buying

      Best to be warned whether window replacement or some other significant cost is anticipated that will be shared amongst the leasehold owners and will dramatically impact the level of the maintenance charges or necessitate a one time invoice. Who are the managing agents? Are there any major works in the near future that will add a premium to the maintenance costs?

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    Lease Extensions in Cardigan