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Examples of recent questions relating to leasehold conveyancing in Chipping Sodbury

I am on look out for some leasehold conveyancing in Chipping Sodbury. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and 99.9% are in Chipping Sodbury - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

My fiance and I may need to let out our Chipping Sodbury garden flat for a while due to a career opportunity. We used a Chipping Sodbury conveyancing firm in 2001 but they have closed and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

A small minority of properties in Chipping Sodbury do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to 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 permission.

Planning to exchange soon on a ground floor flat in Chipping Sodbury. Conveyancing solicitors assured me that they are sending me a report next week. Are there areas in the report that I should be focusing on?

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

  • You should be sent a copy of the lease
  • How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
  • Defining your legal entitlements in relation to the communal areas in the building.E.G., does the lease include a right of way over a path or staircase?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • 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.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • 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 enquire of your conveyancer in ahead of your conveyancing in Chipping Sodbury

    • I have just appointed agents to market my garden flat in Chipping Sodbury.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

    Your conveyancing lawyer is likely to suggest that you should pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

    Do you have any top tips for leasehold conveyancing in Chipping Sodbury from the perspective of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Chipping Sodbury can be avoided where you appoint lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ conveyancers.
    • The majority freeholders or managing agents in Chipping Sodbury levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding 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 frequent cause of delay in leasehold conveyancing in Chipping Sodbury.
  • If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Chipping Sodbury state that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord consenting to such changes. If you dont have the consents in place you should not contact the landlord without checking with your solicitor in advance.
  • Some Chipping Sodbury leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic as opposed to unsettled.

    • I acquired a 1 bedroom flat in Chipping Sodbury, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Chipping Sodbury with a long lease are worth £200,000. The ground rent is £55 per annum. The lease comes to an end on 21st October 2092

    With only 71 years remaining on your lease we estimate the price of your lease extension to be between £11,400 and £13,200 plus professional fees.

    The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Chipping Sodbury