Leasehold Conveyancing in Emersons Green - Get a Quote from the leasehold experts approved by your lender

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While any conveyancing practice can theoretically handle your leasehold conveyancing in Emersons Green, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in Emersons Green

Planning to sign contracts shortly on a leasehold property in Emersons Green. Conveyancing lawyers have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Emersons Green should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The physical extent of the premises. This will be the flat itself but could also include a loft or cellar if applicable.
  • Setting out your legal entitlements in respect of the communal areas in the building.For instance, does the lease provide for a right of way over a path or hallways?
  • Does the lease prevent you from renting out the property, or having a home office for business
  • 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
  • You should have a good understanding of the insurance provisions
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For a comprehensive list of information to be included in your report on your leasehold property in Emersons Green please enquire of your solicitor in advance of your conveyancing in Emersons Green

    • Estate agents have just been given the go-ahead to market my ground floor flat in Emersons Green.Conveyancing has not commenced but I have just had a quarterly service charge invoice – what should I do?

    Your conveyancing lawyer is likely to suggest that you should pay 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 managing agents 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.

    Do you have any advice for leasehold conveyancing in Emersons Green with the aim of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Emersons Green can be reduced where you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation needed by the purchasers’ lawyers.
    • Many freeholders or managing agents in Emersons Green levy fees for providing management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Emersons Green.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example installed wooden flooring? Emersons Green leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord approving such alterations. Where you dont have the consents in place you should not contact the landlord without contacting your lawyer first.
  • If you have had any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to present the dispute as over as opposed to ongoing.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share document. Obtaining a new share certificate can be a time consuming formality and delays many a Emersons Green home move. Where a new share is needed, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.

    • All being well we will complete the disposal of our £250000 flat in Emersons Green in 5 days. The management company has quoted £360 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Emersons Green?

    Emersons Green conveyancing on leasehold maisonettes more often than not involves the buyer’s solicitor sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be content to assist. They are at liberty invoice a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge demanded by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, without which the charge is not strictly payable. Reality however dictates that one has no choice but to pay whatever is requested of you should you wish to complete the sale of your home.

    What makes a Emersons Green lease unmortgageable?

    There is nothing unique about leasehold conveyancing in Emersons Green. All leases are individual and drafting errors can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the building
    • A duty to insure the building
    • 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

    A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, The Royal Bank of Scotland, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.

    I inherited a garden flat in Emersons Green, conveyancing was carried out in 2005. Can you work out an approximate cost of a lease extension? Equivalent flats in Emersons Green with over 90 years remaining are worth £179,000. The average or mid-range amount of ground rent is £65 per annum. The lease terminates on 21st October 2085

    With only 60 years remaining on your lease we estimate the price of your lease extension to range between £20,900 and £24,200 as well as legals.

    The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Emersons Green