Fixed-fee leasehold conveyancing in Filton:

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Recently asked questions relating to Filton leasehold conveyancing

Looking forward to complete next month on a studio apartment in Filton. Conveyancing solicitors have said that they report fully on Monday. Are there areas in the report that I should be focusing on?

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

  • Are you allowed to have a pet in the flat?
  • You should be told what counts as a Nuisance in the lease
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • 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
  • Responsibility for repairing the window frames For details of the information to be contained in your report on your leasehold property in Filton please ask your lawyer in ahead of your conveyancing in Filton

    • I’m about to sell my garden flat in Filton.Conveyancing has not commenced but I have just received a yearly maintenance charge invoice – Do I pay up?

    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 management companies will not acknowledge the buyer unless 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. Having a clear account will assist your cause and will leave you no worse off financially.

    I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Filton. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Filton ?

    The majority of houses in Filton are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Filton so you should seriously consider shopping around for a Filton conveyancing practitioner and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your lawyer should advise you fully on all the issues.

    Can you provide any advice for leasehold conveyancing in Filton from the perspective of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Filton can be reduced where you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information which will be required by the purchasers’ representatives.
    • The majority freeholders or Management Companies in Filton charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Filton.
  • Some Filton leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice 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 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If you hold a share in a the Management Company, you should ensure that you are holding the original share document. Obtaining a replacement share certificate can be a time consuming process and delays many a Filton home move. Where a duplicate share is required, you should approach the company director and secretary or managing agents (if applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is below 75 years. In the circumstances it is important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • What makes a Filton lease problematic?

    Leasehold conveyancing in Filton is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the premises
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Barnsley Building Society, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to withdraw.

    I acquired a basement flat in Filton, conveyancing having been completed 1995. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Filton with an extended lease are worth £170,000. The ground rent is £60 yearly. The lease comes to an end on 21st October 2094

    With 70 years remaining on your lease we estimate the price of your lease extension to range between £10,500 and £12,000 as well as legals.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Filton