Leasehold Conveyancing in Chipping Campden - Get a Quote from the leasehold experts approved by your lender

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Top Five Questions relating to Chipping Campden leasehold conveyancing

I would like to sublet my leasehold flat in Chipping Campden. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Some leases for properties in Chipping Campden 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 suggests 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.

Looking forward to sign contracts shortly on a basement flat in Chipping Campden. Conveyancing solicitors have said that they are sending me a report next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Chipping Campden should include some of the following:

  • Are pets allowed in the flat?
  • Does the lease prevent you from subletting the flat, or having a home office for business
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • 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 you can do if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Chipping Campden please ask your conveyancer in advance of your conveyancing in Chipping Campden

    • I am a negotiator for a long established estate agency in Chipping Campden where we have witnessed a number of flat sales put at risk as a result of short leases. I have been given contradictory information from local Chipping Campden conveyancing firms. Can you clarify whether the seller 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 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 disposal of the property.

    Alternatively, it may be possible 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.

    Can you offer any advice when it comes to appointing a Chipping Campden conveyancing firm to carry out our lease extension conveyancing?

    When appointing a solicitor for your lease extension (regardless if they are a Chipping Campden conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Chipping Campden conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

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

    • Do you have any advice for leasehold conveyancing in Chipping Campden from the perspective of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Chipping Campden can be bypassed if you appoint lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ lawyers.
    • If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Chipping Campden leases often stipulate that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord acquiescing to such alterations. If you dont have the approvals in place do not communicate with the landlord without contacting your solicitor before hand.
  • Some Chipping Campden leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are 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 lawyers.
  • If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share certificate. Organising a new share certificate is often a time consuming process and slows down many a Chipping Campden home move. Where a duplicate share is required, do contact the company officers or managing agents (where relevant) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but you should verify this via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 80 years. It is therefore essential at an early stage 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 inherited a garden flat in Chipping Campden, conveyancing was carried out 8 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 Chipping Campden with over 90 years remaining are worth £220,000. The ground rent is £45 levied per year. The lease runs out on 21st October 2086

    With just 60 years left to run the likely cost is going to range between £20,900 and £24,200 as well as legals.

    The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Chipping Campden