Fixed-fee leasehold conveyancing in Cramlington:

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Common questions relating to Cramlington leasehold conveyancing

I only have Fifty years remaining on my lease in Cramlington. I now wish to get lease extension but my freeholder is missing. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to find the lessor. For most situations a specialist may be useful to carry out a search and to produce a report which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Cramlington.

Planning to sign contracts shortly on a basement flat in Cramlington. Conveyancing lawyers assured me that they report fully tomorrow. What should I be looking out for?

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

  • The physical extent of the property. This will be the flat itself but could also incorporate a loft or cellar if applicable.
  • Setting out your rights in respect of the communal areas in the building.For example, does the lease provide for a right of way over an accessway or staircase?
  • You need to be told what counts as a Nuisance in the lease
  • Whether your lease has a provision for a reserve fund?
  • Repair and maintenance of the flat
  • 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
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Cramlington please ask your conveyancer in advance of your conveyancing in Cramlington

    • I am a negotiator for a reputable estate agent office in Cramlington where we have experienced a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Cramlington conveyancing solicitors. Can you confirm whether the owner of a flat can commence the lease extension formalities for the buyer?

    Provided that the seller has owned the lease 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 buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

    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.

    Do you have any advice for leasehold conveyancing in Cramlington with the purpose of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Cramlington can be reduced if you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
    • Many freeholders or managing agents in Cramlington charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Cramlington.
  • Some Cramlington 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 obtain bank and professional references. Any 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share certificate. Obtaining a new share certificate is often a time consuming formality and frustrates many a Cramlington conveyancing transaction. If a new share is required, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but it would be wise to verify this via your conveyancers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £200000 maisonette in Cramlington on Friday in a week. The managing agents has quoted £336 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Cramlington?

    Cramlington conveyancing on leasehold maisonettes usually requires the buyer’s lawyer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries most will be willing to assist. They are entitled invoice a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, without which the charge is technically not due. In reality one has little choice but to pay whatever is demanded if you want to complete the sale of your home.

    I purchased a leasehold flat in Cramlington, conveyancing was carried out 2005. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Cramlington with an extended lease are worth £265,000. The average or mid-range amount of ground rent is £65 yearly. The lease finishes on 21st October 2093

    You have 67 years remaining on your lease the likely cost is going to be between £11,400 and £13,200 plus legals.

    The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Cramlington