Fixed-fee leasehold conveyancing in Frenchay:

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

Recently asked questions relating to Frenchay leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Frenchay. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Frenchay - 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.

I own a leasehold flat in Frenchay. Conveyancing and Nottingham Building Society mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Frenchay who acted for me is not around.Do I pay?

First make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. You do not need to instruct a Frenchay conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

What are your top tips when it comes to appointing a Frenchay conveyancing firm to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Frenchay conveyancing firm) 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 Frenchay conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

  • Can they put you in touch with client in Frenchay who can give a testimonial?
  • What are the charges for lease extension work?

    • Can you provide any top tips for leasehold conveyancing in Frenchay from the point of view of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Frenchay can be bypassed where you get in touch lawyers as soon as you market your property and ask them to put together the leasehold information needed by the buyers lawyers.
    • If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Frenchay leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord approving such works. Where you dont have the consents to hand you should not contact the landlord without checking with your conveyancer before hand.
  • A minority of Frenchay leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand financial (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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be warry about purchasing a flat where a dispute is unsettled. You will have to accept that you will have to pay 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 ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as over as opposed to unsettled.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is under 80 years. It is therefore important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • When it comes to leasehold conveyancing in Frenchay what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in Frenchay. Most leases are unique and legal mistakes in the legal wording can result in certain provisions are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the property
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Skipton Building Society, and TSB all have express 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 defective they may refuse to provide security, obliging the buyer to pull out.

    I am the registered owner of a ground floor flat in Frenchay, conveyancing formalities finalised 4 years ago. How much will my lease extension cost? Comparable properties in Frenchay with over 90 years remaining are worth £240,000. The average or mid-range amount of ground rent is £50 levied per year. The lease terminates on 21st October 2081

    With 60 years unexpired we estimate the premium for your lease extension to span between £21,900 and £25,200 plus plus your own and the landlord's "reasonable" professional fees.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Frenchay