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

When it comes to leasehold conveyancing in Flamborough, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Santander, RBS or NatWest be sure to choose a lawyer on their panel. Find a Flamborough conveyancing lawyer with our search tool

Examples of recent questions relating to leasehold conveyancing in Flamborough

Frank (my husband) and I may need to let out our Flamborough garden flat temporarily due to a career opportunity. We instructed a Flamborough conveyancing firm in 2004 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Notwithstanding that your previous Flamborough conveyancing solicitor is no longer available you can review your lease to check if it allows you to sublet the apartment. The rule is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you are obliged to obtain permission from your landlord or some other party prior to subletting. The net result is you not allowed to sublet in the absence of prior permission. Such consent is not allowed to be unreasonably refused ore delayed. If your lease prohibits you from letting out the property you will need to ask your landlord for their consent.

I am looking at a two maisonettes in Flamborough both have about 50 years unexpired on the lease term. Will this present a problem?

A lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the value of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area

I've recently bought a leasehold property in Flamborough. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

Can you provide any advice for leasehold conveyancing in Flamborough from the point of view of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Flamborough can be avoided if you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
  • The majority freeholders or managing agents in Flamborough levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Flamborough.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Flamborough leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such alterations. Should you dont have the paperwork in place you should not contact the landlord without checking with your solicitor in advance.
  • If you are supposed to have a share in the freehold, you should ensure that you are holding the original share certificate. Obtaining a replacement share certificate is often a time consuming formality and frustrates many a Flamborough home move. If a reissued share certificate is required, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your solicitors. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is less than 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

  • What makes a Flamborough lease unmortgageable?

    There is nothing unique about leasehold conveyancing in Flamborough. All leases are individual and legal mistakes in the legal wording can result in certain clauses are wrong. 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
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to pull out.

    I bought a split level flat in Flamborough, conveyancing formalities finalised 2002. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Flamborough with an extended lease are worth £255,000. The average or mid-range amount of ground rent is £60 per annum. The lease terminates on 21st October 2104

    With just 80 years unexpired we estimate the price of your lease extension to be between £13,300 and £15,400 as well as legals.

    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 a more accurate figure in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues 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 placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Flamborough