Experts for Leasehold Conveyancing in East Coker

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East Coker leasehold conveyancing: Q and A’s

Having had my offer accepted I require leasehold conveyancing in East Coker. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and most are in East Coker - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Harry (my fiance) and I may need to rent out our East Coker basement flat temporarily due to a new job. We instructed a East Coker conveyancing firm in 2002 but they have since shut and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?

Your lease dictates relations between the landlord and you the leaseholder; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in East Coker do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

Planning to sign contracts shortly on a garden flat in East Coker. Conveyancing solicitors inform me that they report fully next week. Are there areas in the report that I should be focusing on?

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

  • How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
  • 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?
  • Does the lease prevent you from renting out the property, or working from home
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • 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
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide. For details of the information to be contained in your report on your leasehold property in East Coker please enquire of your conveyancer in ahead of your conveyancing in East Coker

    • I’m about to sell my 2 bed flat in East Coker.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge invoice – Do I pay up?

    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. Having a clear account will assist your cause and will leave you no worse off financially.

    Can you offer any advice when it comes to appointing a East Coker conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a solicitor for your lease extension (regardless if they are a East Coker conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non East Coker 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 helpful:

    • How experienced is the practice with lease extension legislation?
  • If they are not ALEP accredited then what is the reason?

    • I invested in buying a 1st floor flat in East Coker, conveyancing formalities finalised in 1998. 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 flats in East Coker with a long lease are worth £214,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ends on 21st October 2080

    With just 55 years left to run we estimate the premium for your lease extension to span between £26,600 and £30,800 plus professional fees.

    The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in East Coker