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

Need to find a solicitor for leasehold conveyancing in Chipping Sodbury on your lender’s panel? Make use of our search tool to find approved local Chipping Sodbury conveyancing practitioners or national solicitors on your lender’s panel .

Examples of recent questions relating to leasehold conveyancing in Chipping Sodbury

Having checked my lease I have discovered that there are only 72 years unexpired on my lease in Chipping Sodbury. I now wish to extend my lease but my landlord is missing. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to track down the landlord. In some cases an enquiry agent would be useful to try and locate and prepare an expert document to be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the application to the County Court overseeing Chipping Sodbury.

Planning to complete next month on a studio apartment in Chipping Sodbury. Conveyancing solicitors inform me that they report fully next week. Are there areas in the report that I should be focusing on?

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

  • You should receive a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Setting out your rights in respect of common areas in the block.For example, does the lease provide for a right of way over a path or hallways?
  • You should be told what constitutes a Nuisance in the lease
  • Whether your lease has a provision for a sinking fund?
  • Repair and maintenance of the flat
  • Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in Chipping Sodbury please ask your conveyancer in ahead of your conveyancing in Chipping Sodbury

  • I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Chipping Sodbury. Conveyancing advisers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Chipping Sodbury ?

    Most houses in Chipping Sodbury are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Chipping Sodbury in which case you should be looking for a Chipping Sodbury conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer will advise you fully on all the issues.

    I am employed by a long established estate agent office in Chipping Sodbury where we have witnessed a few leasehold sales derailed as a result of short leases. I have received contradictory information from local Chipping Sodbury conveyancing solicitors. Could you confirm whether the seller of a flat can start the lease extension formalities for the buyer?

    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 need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

    Alternatively, it may be possible 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 purchaser.

    Can you provide any top tips for leasehold conveyancing in Chipping Sodbury with the purpose of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Chipping Sodbury can be avoided where you appoint lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the buyers solicitors.
    • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Chipping Sodbury state that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. If you fail to have the approvals to hand do not communicate with the landlord without contacting your lawyer before hand.
  • A minority of Chipping Sodbury leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are 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 you hold a share in a the Management Company, you should ensure that you have the original share certificate. Organising a re-issued share certificate can be a lengthy process and slows down many a Chipping Sodbury conveyancing transaction. If a new share is necessary, do contact the company officers or managing agents (if relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

  • I acquired a ground floor flat in Chipping Sodbury, conveyancing formalities finalised 2010. Can you work out an approximate cost of a lease extension? Corresponding flats in Chipping Sodbury with a long lease are worth £222,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease finishes on 21st October 2098

    You have 75 years remaining on your lease the likely cost is going to range between £11,400 and £13,200 as well as legals.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Chipping Sodbury