Experts for Leasehold Conveyancing in Cringleford

Get a Quote

While any conveyancing practice can theoretically deal with your leasehold conveyancing in Cringleford, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Common questions relating to Cringleford leasehold conveyancing

I have recently realised that I have Fifty years remaining on my flat in Cringleford. I now wish to get lease extension but my freeholder is absent. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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 Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to track down the lessor. For most situations an enquiry agent would be helpful to carry out a search and prepare an expert document which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on devolving into the landlord’s disappearance and the application to the County Court covering Cringleford.

I have just appointed agents to market my ground floor apartment in Cringleford.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear the invoice 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 management companies will not acknowledge the buyer until 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.

Last month I purchased a leasehold house in Cringleford. Do I have any liability for service charges relating to a period prior to my ownership?

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. However, 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 Cringleford conveyancing firm to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Cringleford conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Cringleford conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

  • Can they put you in touch with client in Cringleford who can give a testimonial?
  • What are the costs for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in Cringleford from the perspective of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Cringleford can be reduced if you instruct lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information needed by the purchasers’ representatives.
    • The majority freeholders or Management Companies in Cringleford charge for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Cringleford.
  • A minority of Cringleford leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, 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 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 there is a history of any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be concerned about purchasing a flat where a dispute is unsettled. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 buyers, but it is clearly preferable to reveal the dispute as over rather than ongoing.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check via your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. It is therefore essential 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 premises on the market for sale.

    • I acquired a ground floor flat in Cringleford, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Cringleford with a long lease are worth £235,000. The ground rent is £55 per annum. The lease ceases on 21st October 2096

    You have 70 years left to run we estimate the premium for your lease extension to range between £11,400 and £13,200 plus costs.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Cringleford