Guaranteed fixed fees for Leasehold Conveyancing in Cranfield

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When it comes to leasehold conveyancing in Cranfield, you will need to appoint a conveyancing practitioner with leasehold experience. Whether your lender is to be Santander, Yorkshire Building Society or NatWest be sure to find a lawyer on their approved list. Find a Cranfield conveyancing lawyer with our search tool

Cranfield leasehold conveyancing Example Support Desk Enquiries

I have just started marketing my ground floor flat in Cranfield.Conveyancing is yet to be initiated but I have just had a quarterly service charge demand – what should I do?

The sensible thing to do is discharge 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 hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Cranfield. Conveyancing solicitors have are about to be appointed. Will they explain the issues?

Most houses in Cranfield are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Cranfield in which case you should be shopping around for a Cranfield conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer will advise you fully on all the issues.

Last month I purchased a leasehold flat in Cranfield. Do I have any liability for service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you offer any advice when it comes to appointing a Cranfield conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Cranfield conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Cranfield conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

  • How experienced is the firm with lease extension legislation?
  • Can they put you in touch with client in Cranfield who can give a testimonial?

    • Do you have any advice for leasehold conveyancing in Cranfield from the point of view of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Cranfield can be reduced if you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation needed by the buyers representatives.
    • The majority freeholders or Management Companies in Cranfield levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Cranfield.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Cranfield leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord approving such works. If you dont have the consents in place do not contact the landlord without contacting your conveyancer first.
  • Some Cranfield 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 financial (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 buyers or their lawyers.
  • You believe that you know the number of years left on your lease but it would be wise to double-check via your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is less than 75 years. It is therefore essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I own a 1 bedroom flat in Cranfield, conveyancing formalities finalised 2001. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Cranfield with an extended lease are worth £215,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease expires on 21st October 2080

    You have 56 years unexpired we estimate the premium for your lease extension to range between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Cranfield