Experts for Leasehold Conveyancing in Fenstanton

Get a Quote

Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Fenstanton, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Top Five Questions relating to Fenstanton leasehold conveyancing

I am on look out for some leasehold conveyancing in Fenstanton. Before I get started I require certainty as to the number of years remaining on the lease.

If the lease is registered - and 99.9% 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.

Due to complete next month on a basement flat in Fenstanton. Conveyancing solicitors inform me that they report fully next week. Are there areas in the report that I should be focusing on?

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

  • You should be sent a copy of the lease
  • Whether the lease restricts you from subletting the property, or working from home
  • 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
  • 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
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • What you can do if a neighbour breach a clause of their lease? For a comprehensive list of information to be included in your report on your leasehold property in Fenstanton please ask your conveyancer in ahead of your conveyancing in Fenstanton

    • I today plan to offer on a house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Fenstanton. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

    The majority of houses in Fenstanton are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Fenstanton so you should seriously consider shopping around for a Fenstanton conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor will report to you on the legal implications.

    I am tempted by the attractive purchase price for a couple of apartments in Fenstanton both have in the region of 50 years remaining on the leases. should I be concerned?

    A lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the value of the lease reduces and it becomes more expensive to extend the lease. This is why it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area

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

    When appointing a conveyancer for lease extension works (regardless if they are a Fenstanton conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Fenstanton 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 helpful:

    • What volume of lease extensions has the firm carried out in Fenstanton in the last twenty four months?
  • What are the legal fees for lease extension conveyancing?

    • I acquired a ground floor flat in Fenstanton, conveyancing formalities finalised 1995. How much will my lease extension cost? Equivalent flats in Fenstanton with over 90 years remaining are worth £215,000. The average or mid-range amount of ground rent is £65 per annum. The lease finishes on 21st October 2094

    You have 70 years remaining on your lease the likely cost is going to be between £8,600 and £9,800 plus costs.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Fenstanton