Fixed-fee leasehold conveyancing in Forest of Dean:

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Leasehold conveyancing in Forest of Dean is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Forest of Dean and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Examples of recent questions relating to leasehold conveyancing in Forest of Dean

Estate agents have just been given the go-ahead to market my ground floor flat in Forest of Dean.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge demand – what should I do?

It best that you clear 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 until 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. This will smooth the conveyancing process.

I am looking at a two flats in Forest of Dean which have approximately 50 years remaining on the leases. Will this present a problem?

A lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease reduces and it becomes more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field

I work for a busy estate agency in Forest of Dean where we have witnessed a number of leasehold sales put at risk due to short leases. I have received conflicting advice from local Forest of Dean conveyancing solicitors. Can you confirm whether the owner of a flat can commence the lease extension process 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 purchaser.

What advice can you give us when it comes to appointing a Forest of Dean conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Forest of Dean conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Forest of Dean conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • Can they put you in touch with client in Forest of Dean who can give a testimonial?
  • What are the charges for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in Forest of Dean with the purpose of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Forest of Dean can be avoided if you appoint lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ representatives.
    • If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Forest of Dean state that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such alterations. Where you fail to have the approvals in place you should not contact the landlord without checking with your solicitor before hand.
  • Some Forest of Dean leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to unresolved.
  • You believe that you know the number of years left on your lease but it would be wise to double-check by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is under 80 years. It is therefore important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • Forest of Dean Leasehold Conveyancing - Examples of Questions you should consider before buying

      For most Forest of Dean leaseholds the outlay for major works are not included within service charges, albeit that some managing agents in Forest of Dean require leaseholders to contribute towards a sinking fund and this is used to offset against larger repairs or maintenance. Are any of leasehold owners in dispute over their service charge liability? Is the freehold reversion owned jointly by the leaseholders?

    Other Topics

    Lease Extensions in Forest of Dean