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When it comes to leasehold conveyancing in Dursley, you will need to appoint a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Clydesdale , Yorkshire Building Society or Nationwide be sure to find a lawyer on their panel. Find a Dursley conveyancing lawyer with our search tool

Dursley leasehold conveyancing: Q and A’s

I wish to let out my leasehold flat in Dursley. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

The lease dictates the relationship between the freeholder and you the leaseholder; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Dursley do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

Estate agents have just been given the go-ahead to market my basement apartment in Dursley.Conveyancing solicitors are to be appointed soon but I have just had a quarterly maintenance charge demand – what should I do?

It best that you 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 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.

I own a leasehold house in Dursley. Conveyancing and Alliance & Leicester mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Dursley who previously acted has long since retired.What should I do?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Dursley conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two flats in Dursley both have about fifty years unexpired on the leases. Will this present a problem?

There are plenty of short leases in Dursley. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena

Can you provide any top tips for leasehold conveyancing in Dursley with the aim of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Dursley can be bypassed if you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold information which will be required by the buyers solicitors.
  • The majority landlords or Management Companies in Dursley levy fees 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 on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Dursley.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic as opposed to unsettled.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share certificate. Obtaining a new share certificate is often a lengthy formality and slows down many a Dursley home move. If a duplicate share is required, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to where the remaining number of years is below 80 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.

    • I bought a split level flat in Dursley, conveyancing formalities finalised 6 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 properties in Dursley with a long lease are worth £212,000. The ground rent is £65 invoiced every year. The lease runs out on 21st October 2075

    With just 51 years left to run we estimate the price of your lease extension to range between £36,100 and £41,800 as well as legals.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Dursley