Expecting to sign contracts shortly on a ground floor flat in Dersingham. Conveyancing lawyers assured me that they report fully tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Dersingham should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

Do you need to have carpet in the flat or are you allowed wood flooring?

Are you allowed to have a pet in the flat?

Ground rent - how much and when you need to pay, and also know whether this is subject to change

An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has

You should have a good understanding of the insurance provisions

Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in Dersingham please ask your solicitor in advance of your conveyancing in Dersingham

I've recently bought a leasehold property in Dersingham. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner 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).

I work for a busy estate agency in Dersingham where we see a number of leasehold sales derailed as a result of short leases. I have been given conflicting advice from local Dersingham conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having 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 prior to, or simultaneously with completion of the sale.

An alternative approach is 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 Dersingham from the perspective of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Dersingham can be bypassed if you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation needed by the purchasers’ representatives.
• The majority landlords or Management Companies in Dersingham levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Dersingham.

In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Dersingham leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord approving such changes. Should you dont have the paperwork in place you should not communicate with the landlord without checking with your solicitor first.

A minority of Dersingham leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet 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 purchasers or their lawyers.

If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Obtaining a duplicate share certificate is often a lengthy formality and slows down many a Dersingham conveyancing deal. Where a reissued share certificate is needed, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.

Completion in due on the sale of our £375000 maisonette in Dersingham in just under a week. The management company has quoted £408 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 Dersingham?

Dersingham conveyancing on leasehold apartments typically results in administration charges levied by management companies :

• Completing conveyancing due diligence questions
• Where consent is required before sale in Dersingham
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Dersingham leasehold premises is £350. For Dersingham conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

I own a 1st floor flat in Dersingham, conveyancing formalities finalised 10 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Dersingham with a long lease are worth £184,000. The ground rent is £50 invoiced every year. The lease ends on 21st October 2100

With just 75 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account 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 Dersingham