Guaranteed fixed fees for Leasehold Conveyancing in Cirencester

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

Frequently asked questions relating to Cirencester leasehold conveyancing

My wife and I may need to rent out our Cirencester 1st floor flat temporarily due to a new job. We instructed a Cirencester conveyancing practice in 2003 but they have closed and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your last Cirencester conveyancing solicitor is not available you can review your lease to see if it allows you to sublet the property. The rule is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you are obliged to seek consent from your landlord or some other party before subletting. This means you not allowed to sublet in the absence of first obtaining consent. The consent must not not be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord for their consent.

I am employed by a busy estate agency in Cirencester where we have witnessed a number of leasehold sales jeopardised due to short leases. I have received contradictory information from local Cirencester conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that 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 wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

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.

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

When appointing a property lawyer for your lease extension (regardless if they are a Cirencester conveyancing practice) 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 talk with two or three firms including non Cirencester conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

  • How familiar is the firm with lease extension legislation?
  • What volume of lease extensions has the firm carried out in Cirencester in the last 12 months?

    • Do you have any top tips for leasehold conveyancing in Cirencester with the aim of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Cirencester can be bypassed if you get in touch lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information which will be required by the purchasers’ conveyancers.
    • The majority freeholders or Management Companies in Cirencester levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Cirencester.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a property where a dispute is ongoing. You will have to accept that you will have to pay any arrears of service charge or resolve 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 better to present the dispute as historic as opposed to unresolved.
  • If you are supposed to have a share in the Management Company, you should make sure that you have the original share certificate. Organising a replacement share certificate can be a lengthy process and slows down many a Cirencester home move. Where a duplicate share is needed, do contact the company officers or managing agents (where applicable) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check via your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is 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 home on the market for sale.

    • When it comes to leasehold conveyancing in Cirencester what are the most common lease problems?

    Leasehold conveyancing in Cirencester is not unique. All leases are unique and legal mistakes in the legal wording can result in certain clauses are wrong. The following missing provisions could result in a defective lease:

    • Repairing obligations 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.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, The Royal Bank of Scotland, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.

    I am the registered owner of a studio flat in Cirencester, conveyancing formalities finalised 6 years ago. How much will my lease extension cost? Corresponding flats in Cirencester with over 90 years remaining are worth £169,000. The ground rent is £60 levied per year. The lease finishes on 21st October 2087

    With 62 years unexpired the likely cost is going to span between £20,000 and £23,000 as well as costs.

    The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Cirencester