Guaranteed fixed fees for Leasehold Conveyancing in Clifton

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Top Five Questions relating to Clifton leasehold conveyancing

I’m about to sell my garden flat in Clifton.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should discharge 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

My wife and I purchased a leasehold flat in Clifton. Conveyancing and Accord Mortgages Ltd mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Clifton who acted for me is not around.Any advice?

The first thing you should do is contact the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Clifton conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a two maisonettes in Clifton which have approximately 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Clifton is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. The majority of purchasers and lenders, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Clifton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

What are your top tips when it comes to appointing a Clifton conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Clifton conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Clifton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

  • How familiar is the practice with lease extension legislation?
  • If they are not ALEP accredited then why not?

    • Do you have any top tips for leasehold conveyancing in Clifton with the aim of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Clifton can be bypassed where you appoint 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 buyers conveyancers.
    • If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example installed wooden flooring? Clifton leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. If you fail to have the paperwork in place do not contact the landlord without checking with your solicitor first.
  • A minority of Clifton 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 put in hand 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may need to swallow your pride and discharge 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 ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as over rather than ongoing.
  • If you are supposed to have a share in the freehold, you should make sure that you hold the original share certificate. Arranging a new share certificate is often a time consuming process and delays many a Clifton conveyancing deal. Where a new share is required, do contact the company officers or managing agents (if relevant) for this at the earliest opportunity.

    • I am the registered owner of a 1 bedroom flat in Clifton, conveyancing was carried out 10 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Clifton with an extended lease are worth £255,000. The ground rent is £50 invoiced every year. The lease terminates on 21st October 2099

    With only 74 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 plus professional fees.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt 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 move forward placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Clifton