I am on look out for some leasehold conveyancing in Fenstanton. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and most are in Fenstanton - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Frank (my husband) and I may need to sub-let our Fenstanton ground floor flat for a while due to a career opportunity. We used a Fenstanton conveyancing firm in 2003 but they have since shut and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?

A small minority of properties in Fenstanton do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

Can you offer any advice when it comes to appointing a Fenstanton conveyancing firm to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Fenstanton conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Fenstanton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• How experienced is the practice with lease extension legislation?

Can they put you in touch with client in Fenstanton who can give a testimonial?

Do you have any top tips for leasehold conveyancing in Fenstanton from the point of view of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Fenstanton can be avoided where you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the buyers representatives.
• The majority freeholders or Management Companies in Fenstanton charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Fenstanton.

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 Fenstanton state that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such works. Where you fail to have the approvals to hand you should not communicate with the landlord without checking with your lawyer in the first instance.

Some Fenstanton leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain 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 purchasers or their solicitors.

If you hold a share in a the freehold, you should ensure that you hold the original share certificate. Organising a new share certificate can be a time consuming process and delays many a Fenstanton conveyancing deal. If a new share certificate is necessary, you should approach the company officers or managing agents (if relevant) for this as soon as possible.

All being well we will complete our sale of a £275000 apartment in Fenstanton in 10 days. The freeholder has quoted £420 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Fenstanton?

For most leasehold sales in Fenstanton conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing pre-contract questions
• Where consent is required before sale in Fenstanton
• Supplying insurance information
• 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 Fenstanton leasehold premises is £350. For Fenstanton 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 required to supply answers.

I invested in buying a basement flat in Fenstanton, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Fenstanton with an extended lease are worth £225,000. The ground rent is £60 invoiced annually. The lease expires on 21st October 2091

With only 68 years remaining on your lease we estimate the premium for your lease extension to span between £12,400 and £14,200 plus professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.

Other Topics

Lease Extensions in Fenstanton