Quality lawyers for Leasehold Conveyancing in Cottenham

While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Cottenham, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Questions and Answers: Cottenham leasehold conveyancing

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

If the lease is recorded at the land registry - and 99.9% are in Cottenham - 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.

I wish to let out my leasehold apartment in Cottenham. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Notwithstanding that your previous Cottenham conveyancing solicitor is no longer around you can review your lease to see if it allows you to sublet the apartment. The rule is that if the lease is non-specific, subletting is allowed. There may be a precondition that you must seek consent via your landlord or other appropriate person before subletting. This means that you cannot sublet without prior consent. Such consent should not be unreasonably refused ore delayed. If your lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.

I only have Seventy years unexpired on my lease in Cottenham. I now wish to extend my lease but my landlord is missing. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to track down the freeholder. On the whole an enquiry agent would be helpful to carry out a search and to produce a report which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the application to the County Court overseeing Cottenham.

Do you have any top tips for leasehold conveyancing in Cottenham with the purpose of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Cottenham can be avoided where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ lawyers.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Cottenham leases often stipulate that internal structural changes or addition of wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Where you dont have the paperwork in place do not contact the landlord without checking with your solicitor in the first instance.
  • Some Cottenham leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you have had any disputes with your landlord or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be concerned about purchasing a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over rather than ongoing.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share document. Arranging a replacement share certificate can be a lengthy formality and delays many a Cottenham home move. If a duplicate share is needed, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later.

  • All being well we will complete the sale of our £225000 flat in Cottenham next week. The freeholder has quoted £312 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Cottenham?

    Cottenham conveyancing on leasehold flats usually requires the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions the majority will be willing to assist. They are at liberty invoice a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some cases it is in excess of £800. The administration charge levied by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, otherwise the charge is technically not due. Reality however dictates that one has no choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.

    I am the registered owner of a split level flat in Cottenham, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Cottenham with an extended lease are worth £257,000. The average or mid-range amount of ground rent is £50 yearly. The lease finishes on 21st October 2102

    With just 80 years left to run the likely cost is going to range between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" 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 in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be 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 take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Cottenham