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

Top Five Questions relating to Flint leasehold conveyancing

Jane (my partner) and I may need to rent out our Flint 1st floor flat temporarily due to a new job. We instructed a Flint conveyancing practice in 2003 but they have since shut and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your previous Flint conveyancing lawyer is no longer around you can check your lease to see if it allows you to sublet the property. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you must seek permission via your landlord or other appropriate person prior to subletting. This means that you cannot sublet in the absence of prior consent. Such consent is not allowed to be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

I work for a busy estate agency in Flint where we have experienced a few leasehold sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Flint conveyancing firms. Can you confirm whether the owner of a flat can start the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

What are your top tips when it comes to appointing a Flint conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Flint conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Flint conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

  • How many lease extensions has the firm carried out in Flint in the last 12 months?
  • Can they put you in touch with client in Flint who can give a testimonial?

    • Do you have any advice for leasehold conveyancing in Flint with the intention of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Flint can be reduced if you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold information needed by the buyers representatives.
    • Many freeholders or Management Companies in Flint charge for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. 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 usual reason for frustration in leasehold conveyancing in Flint.
  • A minority of Flint leases require Licence to Assign from the landlord. If this applies to your lease, 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 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. 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 details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than ongoing.
  • If you are supposed to have a share in the freehold, you should make sure that you hold the original share certificate. Obtaining a re-issued share certificate can be a time consuming process and frustrates many a Flint conveyancing deal. If a duplicate share is required, you should approach the company officers or managing agents (where relevant) for this as soon as possible.

    • Are there frequently found problems that you witness in leases for Flint properties?

    Leasehold conveyancing in Flint is not unique. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the building
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Skipton Building Society, and Clydesdale all have very detailed conveyancing instructions 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 provide security, forcing the buyer to pull out.

    I invested in buying a garden flat in Flint, conveyancing formalities finalised 2012. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Flint with a long lease are worth £185,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease expires on 21st October 2104

    With only 80 years left to run we estimate the price of your lease extension to range between £8,600 and £9,800 as well as costs.

    The figure 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 in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should 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 Flint