Fixed-fee leasehold conveyancing in Dulverton:

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Top Five Questions relating to Dulverton leasehold conveyancing

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

Some leases for properties in Dulverton do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I am a negotiator for a busy estate agency in Dulverton where we see a number of leasehold sales derailed as a result of short leases. I have been given inconsistent advice from local Dulverton conveyancing firms. Could you shed some light as to whether the owner of a flat can commence the lease extension formalities for the buyer?

As long as the seller has owned the lease 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 buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

What are your top tips when it comes to appointing a Dulverton conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Dulverton conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Dulverton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

  • If the firm is not ALEP accredited then what is the reason?
  • What are the charges for lease extension conveyancing?

    • Can you provide any advice for leasehold conveyancing in Dulverton with the intention of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Dulverton can be bypassed where you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation needed by the buyers representatives.
    • If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Dulverton state that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord consenting to such works. If you dont have the paperwork to hand do not contact the landlord without checking with your conveyancer in the first instance.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. 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 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 are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over rather than ongoing.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share certificate. Organising a new share certificate is often a lengthy process and slows down many a Dulverton home move. If a reissued share is necessary, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your conveyancers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • In relation to leasehold conveyancing in Dulverton what are the most frequent lease defects?

    Leasehold conveyancing in Dulverton is not unique. All leases are unique and legal mistakes in the legal wording can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the building
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Leeds Building Society, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to pull out.

    I own a studio flat in Dulverton, conveyancing having been completed 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? Similar flats in Dulverton with over 90 years remaining are worth £240,000. The average or mid-range amount of ground rent is £45 per annum. The lease finishes on 21st October 2094

    With just 69 years remaining on your lease we estimate the price of your lease extension to span between £11,400 and £13,200 plus costs.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Dulverton