Guaranteed fixed fees for Leasehold Conveyancing in Ebbw Vale

When it comes to leasehold conveyancing in Ebbw Vale, you will need to appoint a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Halifax, Yorkshire Building Society or Nationwide make sure you choose a lawyer on their approved list. Feel free to use our search tool

Ebbw Vale leasehold conveyancing Example Support Desk Enquiries

I have just started marketing my basement flat in Ebbw Vale.Conveyancing has not commenced but I have just received a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

It best that you pay 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 am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently been informed that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Ebbw Vale. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Ebbw Vale ?

The majority of houses in Ebbw Vale are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Ebbw Vale in which case you should be shopping around for a Ebbw Vale conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to carry out alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will appraise you on the various issues.

I am employed by a reputable estate agency in Ebbw Vale where we see a few flat sales derailed as a result of short leases. I have received contradictory information from local Ebbw Vale conveyancing firms. Could you confirm whether the seller of a flat can initiate the lease extension formalities for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed 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.

Can you provide any advice for leasehold conveyancing in Ebbw Vale with the purpose of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Ebbw Vale can be avoided where you get in touch lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information needed by the purchasers’ lawyers.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Ebbw Vale leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord consenting to such changes. Where you fail to have the paperwork in place do not contact the landlord without contacting your lawyer first.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may need to swallow your pride and discharge any arrears of service charge or resolve 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 ongoing.
  • If you are supposed to have a share in the freehold, you should ensure that you hold the original share document. Arranging a duplicate share certificate is often a time consuming formality and frustrates many a Ebbw Vale home move. If a duplicate share is required, you should approach the company officers or managing agents (where applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your lawyers. A buyer’s lawyer will not be happy to advise their client to where the lease term is less than 75 years. It is therefore important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

  • We expect to complete our sale of a £300000 flat in Ebbw Vale in 8 days. The freeholder has quoted £312 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Ebbw Vale?

    Ebbw Vale conveyancing on leasehold flats typically involves administration charges levied by freeholders :

    • Addressing pre-exchange enquiries
    • Where consent is required before sale in Ebbw Vale
    • 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 conveyancer will have no control over the level of the charges for this information but the average costs for the information for Ebbw Vale leasehold property is £350. For Ebbw Vale 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 obliged to supply answers.

    I own a split level flat in Ebbw Vale, conveyancing was carried out 2010. 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 Ebbw Vale with an extended lease are worth £238,000. The ground rent is £65 charged once a year. The lease comes to an end on 21st October 2098

    With just 74 years remaining on your lease the likely cost is going to range between £11,400 and £13,200 plus professional fees.

    The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously 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 Ebbw Vale