Guaranteed fixed fees for Leasehold Conveyancing in Fairford

While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Fairford, 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 Fairford

My wife and I purchased a leasehold house in Fairford. Conveyancing and Virgin Money mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Fairford who previously acted has now retired.Any advice?

The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Fairford conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

What are your top tips when it comes to finding a Fairford conveyancing firm to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Fairford conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Fairford conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

  • If the firm is not ALEP accredited then why not?
  • How many lease extensions have they conducted in Fairford in the last twenty four months?

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

  • A significant proportion of the frustration in leasehold conveyancing in Fairford can be reduced if you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers.
  • The majority landlords or managing agents in Fairford charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack sought 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 common reason for frustration in leasehold conveyancing in Fairford.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Fairford state that internal structural changes or addition of wooden flooring require a licence issued by the Landlord consenting to such changes. Where you fail to have the consents in place do not communicate with the landlord without contacting your conveyancer first.
  • Some Fairford leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are 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 purchasers or their lawyers.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet 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 ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unsettled.

Completion in due on our sale of a £ 150000 garden flat in Fairford in just under a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Fairford?

Fairford conveyancing on leasehold flats usually requires the buyer’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to answer these enquiries the majority will be content to assist. They may invoice a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it is above £800. The administration charge levied by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, without which the invoice is technically not due. In reality one has little option but to pay whatever is requested of you if you want to complete the sale of your home.

What are the frequently found defects that you see in leases for Fairford properties?

There is nothing unique about leasehold conveyancing in Fairford. All leases is drafted differently and drafting errors can result in certain sections are not included. The following missing provisions could result in a defective lease:

  • A provision to repair to or maintain elements 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 issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Coventry Building Society, and Godiva Mortgages Ltd all have express 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.

I am the registered owner of a studio flat in Fairford, conveyancing having been completed in 2005. 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 Fairford with over 90 years remaining are worth £218,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease finishes on 21st October 2103

You have 77 years remaining on your lease we estimate the premium for your lease extension to be between £12,400 and £14,200 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.