Fixed-fee leasehold conveyancing in Fishponds:

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

Sample questions relating to Fishponds leasehold conveyancing

I only have 62 years unexpired on my flat in Fishponds. I need to extend my lease but my landlord is can not be found. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to find the landlord. For most situations a specialist should be helpful to conduct investigations and prepare an expert document to be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s absence and the vesting order request to the County Court overseeing Fishponds.

I’m about to sell my 2 bed apartment in Fishponds.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – what should I do?

The sensible thing to do is pay the service charge 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 managing agents 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 am attracted to a couple of apartments in Fishponds which have about 50 years remaining on the lease term. Do I need to be concerned?

There are plenty of short leases in Fishponds. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the saleability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area

Can you offer any advice when it comes to finding a Fishponds conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a Fishponds conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Fishponds conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • How experienced is the practice with lease extension legislation?
  • If they are not ALEP accredited then why not?

    • Do you have any advice for leasehold conveyancing in Fishponds with the purpose of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Fishponds can be avoided if you appoint lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers lawyers.
    • Many freeholders or Management Companies in Fishponds charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack 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 usual reason for frustration in leasehold conveyancing in Fishponds.
  • A minority of Fishponds 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 put in hand bank and professional references. The bank reference should make it clear that the buyer is 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 buyers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than ongoing.
  • You believe that you know the number of years left on your lease but you should double-check via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to where the lease term is under 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I acquired a leasehold flat in Fishponds, conveyancing having been completed in 2002. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Fishponds with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £60 per annum. The lease ends on 21st October 2085

    With just 63 years left to run the likely cost is going to be between £15,200 and £17,600 as well as 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 renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. You should 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 should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Fishponds