Leasehold Conveyancing in Cotham - Get a Quote from the leasehold experts approved by your lender

Get a Quote

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

Examples of recent questions relating to leasehold conveyancing in Cotham

Harry (my fiance) and I may need to sub-let our Cotham ground floor flat for a while due to a new job. We instructed a Cotham conveyancing practice in 2001 but they have since shut and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?

The lease dictates relations 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 specific ban or restriction, subletting is permitted. The majority of leases in Cotham do not prevent subletting altogether – such a clause would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

Expecting to complete next month on a ground floor flat in Cotham. Conveyancing solicitors assured me that they will have a report out to me within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Cotham should include some of the following:

  • How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
  • The total extent of the property. This will be the flat itself but could also include a roof space or basement if applicable.
  • Are you allowed to have a pet in the flat?
  • Whether your lease has a provision for a sinking fund?
  • Repair and maintenance of the flat
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • 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 For a comprehensive list of information to be included in your report on your leasehold property in Cotham please enquire of your solicitor in advance of your conveyancing in Cotham

    • I am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it all the more appealing. I have just discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Cotham. Conveyancing advisers have not yet been instructed. Will they explain the issues?

    The majority of houses in Cotham are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Cotham in which case you should be shopping around for a Cotham conveyancing practitioner and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your lawyer should appraise you on the various issues.

    I am attracted to a two maisonettes in Cotham both have about 50 years unexpired on the lease term. Do I need to be concerned?

    There are plenty of short leases in Cotham. The lease is a right to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena

    Can you provide any top tips for leasehold conveyancing in Cotham from the perspective of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Cotham can be avoided if you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information needed by the purchasers’ solicitors.
    • The majority landlords or Management Companies in Cotham levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Cotham.
  • Some Cotham leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual 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 you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share document. Obtaining a duplicate share certificate is often a time consuming process and slows down many a Cotham conveyancing transaction. If a duplicate share certificate is needed, do contact the company officers or managing agents (where relevant) 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 by asking your lawyers. A purchaser's lawyer will not be happy to advise their client to where the lease term is under 80 years. In the circumstances it is essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I own a split level flat in Cotham, conveyancing having been completed in 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Cotham with over 90 years remaining are worth £229,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease finishes on 21st October 2076

    You have 51 years left to run we estimate the premium for your lease extension to span between £37,100 and £42,800 plus professional fees.

    The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Cotham