Fixed-fee leasehold conveyancing in Egremont:

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Top Five Questions relating to Egremont leasehold conveyancing

My wife and I may need to rent out our Egremont 1st floor flat temporarily due to a career opportunity. We instructed a Egremont conveyancing firm in 2003 but they have since shut and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?

Notwithstanding that your last Egremont conveyancing solicitor is no longer available you can check your lease to see if it allows you to sublet the apartment. The rule is that if the lease is non-specific, subletting is allowed. There may be a precondition that you must seek consent via your landlord or some other party before subletting. The net result is you not allowed to sublet without prior consent. Such consent must not not be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

Estate agents have just been given the go-ahead to market my garden apartment in Egremont.Conveyancing has not commenced but I have just had a quarterly service charge demand – what should I do?

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.

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

If you are instructing a solicitor for lease extension works (regardless if they are a Egremont conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Egremont conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

  • What volume of lease extensions have they carried out in Egremont in the last twenty four months?
  • Can they put you in touch with client in Egremont who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Egremont from the point of view of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Egremont can be avoided where you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information which will be required by the purchasers’ representatives.
    • Many freeholders or Management Companies in Egremont levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Egremont.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Egremont state that internal structural alterations or installing wooden flooring require a licence from the Landlord consenting to such works. If you fail to have the paperwork to hand you should not contact the landlord without checking with your solicitor in advance.
  • Some Egremont leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the yearly 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 buyers or their lawyers.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share certificate. Obtaining a duplicate share certificate can be a time consuming process and slows down many a Egremont conveyancing deal. Where a new share is needed, do contact the company officers or managing agents (where relevant) for this sooner rather than later.

    • What makes a Egremont lease unmortgageable?

    Leasehold conveyancing in Egremont is not unique. All leases are individual and drafting errors can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the building
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, The Mortgage Works, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.

    Leasehold Conveyancing in Egremont - Examples of Queries Prior to Purchasing

      What is the yearly service fee and ground rent? Are any of leasehold owners in dispute over their service charge liability? How is the lease structured?

    Other Topics

    Lease Extensions in Egremont