Experts for Leasehold Conveyancing in Clifton

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Questions and Answers: Clifton leasehold conveyancing

Due to complete next month on a studio apartment in Clifton. Conveyancing solicitors have said that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

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

  • You should be sent a copy of the lease
  • The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The physical extent of the demise. This will be the property itself but might incorporate a roof space or basement if appropriate.
  • 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. For a comprehensive list of information to be included in your report on your leasehold property in Clifton please enquire of your solicitor in ahead of your conveyancing in Clifton

    • Back In 2008, I bought a leasehold flat in Clifton. Conveyancing and Bank of Scotland mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Clifton who acted for me is not around.What should I do?

    First contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Clifton conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I am attracted to a couple of flats in Clifton which have about 50 years left on the lease term. Should I regard a short lease as a deal breaker?

    A lease is a right to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. For this reason it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena

    Can you provide any advice for leasehold conveyancing in Clifton from the perspective 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 collate the leasehold information needed by the buyers lawyers.
    • Many landlords or Management Companies in Clifton levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Clifton.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Clifton leases often stipulate that internal structural alterations or laying down wooden flooring require a licence from the Landlord acquiescing to such works. If you dont have the approvals to hand do not communicate with the landlord without contacting your solicitor first.
  • A minority of Clifton leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this via your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 80 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Completion in due on the sale of our £125000 maisonette in Clifton next week. The freeholder has quoted £312 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Clifton?

    Clifton conveyancing on leasehold apartments normally requires the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries most will be content to do so. They are at liberty charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, without which the charge is technically not due. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to complete the sale of your home.

    Clifton Leasehold Conveyancing - Examples of Queries before buying

      Best to be warned whether changing the roof or some other significant cost is due shortly that will be shared by the leaseholders and will dramatically impact the level of the service fees or result in a one time payment. Be sure to find out if the the lease contains any onerous restrictions in the lease. By way of example some leases prohibit pets being permitted in certain buildings in Clifton. If you like the propertyin Clifton however your dog is not allowed to make the move with you then you will be presented with a hard compromise. If a Clifton lease has less than eighty years it will impact the salability of the flat. It is worth checking with your mortgage company that they are willing to lend given the lease term. A short lease means that you will most likely require a lease extension sooner rather than later and it is worth discovering what this would cost. Remember, in most cases you would need to own the property for 24 months before you are entitled to carry out a lease extension.

    Other Topics

    Lease Extensions in Clifton