Fixed-fee leasehold conveyancing in Felpham:

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

Sample questions relating to Felpham leasehold conveyancing

Expecting to exchange soon on a basement flat in Felpham. Conveyancing solicitors inform me that they report fully on Monday. What should I be looking out for?

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

  • You should receive a copy of the lease
  • Defining your legal entitlements in relation to the communal areas in the block.For instance, does the lease permit a right of way over a path or hallways?
  • You should be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Whether your lease has a provision for a sinking fund?
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Felpham please ask your lawyer in ahead of your conveyancing in Felpham

    • I am tempted by the attractive purchase price for a couple of apartments in Felpham both have in the region of fifty years left on the lease term. should I be concerned?

    A lease is a right to use the premises for a period of time. As a lease gets shorter the saleability of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena

    I am employed by a busy estate agency in Felpham where we see a few flat sales put at risk due to short leases. I have been given inconsistent advice from local Felpham conveyancing solicitors. Could you shed some light as to whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?

    Provided that 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 proposed purchaser need not have 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 before, or at the same time as completion of the sale.

    Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 purchaser.

    Can you offer any advice when it comes to choosing a Felpham conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a conveyancer for lease extension works (regardless if they are a Felpham conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Felpham 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 of use:

    • If they are not ALEP accredited then what is the reason?
  • What volume of lease extensions have they carried out in Felpham in the last twenty four months?

    • Can you provide any advice for leasehold conveyancing in Felpham with the purpose of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Felpham can be reduced if you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the purchasers’ representatives.
    • The majority freeholders or managing agents in Felpham charge for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Felpham.
  • Some Felpham 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 bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual 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 solicitors.
  • If you are supposed to have a share in the freehold, you should ensure that you hold the original share certificate. Arranging a replacement share certificate is often a time consuming process and delays many a Felpham home move. Where a reissued share certificate is needed, do contact the company director and secretary 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 advisable double-check by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is under 75 years. In the circumstances it is important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Felpham Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to buying

      The best form of lease arrangement is a share of the freehold. In this arrangement the tenants have being in charge if their destiny and notwithstanding that a managing agent is usually retained where it is larger than a house conversion, the managing agent acts for the leaseholders themselves. Make sure you discover if there is anything that is prohibited in the lease. For instance plenty of leases prohibit pets being allowed in certain buildings in Felpham. If you like the apartmentin Felpham however your cat is not allowed to live with you then you will be faced hard decision. How much is the service charge and ground rent on the apartment?

    Other Topics

    Lease Extensions in Felpham