Leasehold Conveyancing in Fishponds - Get a Quote from the leasehold experts approved by your lender

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Fishponds leasehold conveyancing: Q and A’s

I am on look out for some leasehold conveyancing in Fishponds. Before diving in I want to be sure as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and most are in Fishponds - then the leasehold title will always include the basic details 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.

Having checked my lease I have discovered that there are only 72 years left on my lease in Fishponds. I now want to extend my lease but my landlord is missing. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you have used your best endeavours to track down the lessor. For most situations an enquiry agent should be helpful to conduct investigations and to produce a report to be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the application to the County Court covering Fishponds.

You should [be sent a copy of the lease|receive a copy of the lease]

Planning to sign contracts shortly on a studio apartment in Fishponds. Conveyancing lawyers have said that they are sending me a report on Monday. What should I be looking out for?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The total extent of the premises. This will be the apartment itself but could also include a loft or basement if applicable.
  • Does the lease prohibit wood flooring?
  • Does the lease prevent you from renting out the property, or working from home
  • You need to be told what constitutes a Nuisance in the lease
  • Repair and maintenance of the flat
  • Responsibility for repairing the window frames
For a comprehensive list of information to be contained in your report on your leasehold property in Fishponds please enquire of your solicitor in ahead of your conveyancing in Fishponds

I've recently bought a leasehold property in Fishponds. Do I have any liability for service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

We expect to complete the disposal of our £ 400000 maisonette in Fishponds on Monday in a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Fishponds?

Fishponds conveyancing on leasehold flats normally involves the purchaser’s solicitor submitting questions for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries most will be willing to assist. They are at liberty charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee demanded by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I acquired a 1st floor flat in Fishponds, conveyancing having been completed 2009. How much will my lease extension cost? Corresponding properties in Fishponds with over 90 years remaining are worth £241,000. The ground rent is £45 levied per year. The lease expires on 21st October 2085

With only 59 years remaining on your lease we estimate the premium for your lease extension to be between £22,800 and £26,400 plus professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.