Experts for Leasehold Conveyancing in Coningsby

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

Coningsby leasehold conveyancing Example Support Desk Enquiries

I am in need of some leasehold conveyancing in Coningsby. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is registered - and most are in Coningsby - then the leasehold title will always include the short particulars 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.

Harry (my fiance) and I may need to let out our Coningsby garden flat temporarily due to a new job. We used a Coningsby conveyancing practice in 2003 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

The lease dictates the relationship between the landlord and you the leaseholder; in particular, it will set out if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Coningsby do not contain strict prohibition on subletting – such a provision would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

I’m about to sell my basement apartment in Coningsby.Conveyancing has not commenced but I have just had a half-yearly service charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should clear the service charge 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.

I am a negotiator for a busy estate agent office in Coningsby where we have experienced a number of leasehold sales put at risk due to short leases. I have been given contradictory information from local Coningsby conveyancing solicitors. Could you confirm whether the owner of a flat can initiate the lease extension formalities for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.

Can you provide any advice for leasehold conveyancing in Coningsby from the point of view of expediting the sale process?

  • Much of the frustration in leasehold conveyancing in Coningsby can be reduced where you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the buyers representatives.
  • If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example installed wooden flooring? Coningsby leases often stipulate that internal structural changes or addition of wooden flooring require a licence from the Landlord acquiescing to such changes. Where you fail to have the paperwork in place do not communicate with the landlord without checking with your solicitor before hand.
  • Some Coningsby leases require Licence to Assign from the landlord. If this applies to your lease, 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. 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 purchasers or their lawyers.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share document. Arranging a replacement share certificate can be a time consuming process and slows down many a Coningsby conveyancing transaction. Where a duplicate share is required, 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 left on your lease but it would be wise to double-check via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. It is therefore important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I own a garden flat in Coningsby, conveyancing was carried out half a dozen 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? Comparable properties in Coningsby with over 90 years remaining are worth £207,000. The ground rent is £45 charged once a year. The lease comes to an end on 21st October 2095

    With only 69 years left to run we estimate the price of your lease extension to be between £11,400 and £13,200 plus costs.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns 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 without first getting professional advice.

    Other Topics

    Lease Extensions in Coningsby