Guaranteed fixed fees for Leasehold Conveyancing in Freshwater Bay

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When it comes to leasehold conveyancing in Freshwater Bay, you will need to chose a conveyancing practitioner with leasehold experience. Whether your lender is to be Santander, RBS or Bradford & Bingley be sure to choose a lawyer on their panel. Find a Freshwater Bay conveyancing lawyer with our search tool

Recently asked questions relating to Freshwater Bay leasehold conveyancing

My partner and I may need to rent out our Freshwater Bay ground floor flat for a while due to taking a sabbatical. We instructed a Freshwater Bay conveyancing firm in 2001 but they have closed and we did not have the foresight to get any advice as to whether the lease allows us to sublet. How do we find out?

Even though your last Freshwater Bay conveyancing solicitor is not around you can check your lease to check if you are permitted to let out the premises. The accepted inference is that if the lease is non-specific, subletting is allowed. There may be a precondition that you are obliged to obtain permission from your landlord or other appropriate person before subletting. The net result is that you cannot sublet without prior consent. The consent must not not be unreasonably turned down. If the lease prohibits you from subletting the property you will need to ask your landlord for their consent.

Estate agents have just been given the go-ahead to market my garden apartment in Freshwater Bay.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge demand – should I leave it to the buyer to sort out?

It best that you discharge the invoice 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

I today plan to offer on a house that appears to meet my requirements, at a great price which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Freshwater Bay. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

The majority of houses in Freshwater Bay are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Freshwater Bay so you should seriously consider shopping around for a Freshwater Bay conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your lawyer will appraise you on the various issues.

I am attracted to a two maisonettes in Freshwater Bay which have in the region of fifty years left on the lease term. Do I need to be concerned?

A lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the saleability of the lease reduces and it becomes more expensive to extend the lease. This is why it is advisable to extend the lease term. It is often difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this arena

Can you provide any advice for leasehold conveyancing in Freshwater Bay from the perspective of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Freshwater Bay can be avoided if you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation needed by the purchasers’ conveyancers.
  • The majority freeholders or Management Companies in Freshwater Bay charge for supplying 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 accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Freshwater Bay.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Freshwater Bay state that internal structural changes or addition of wooden flooring require a licence issued by the Landlord acquiescing to such works. If you fail to have the approvals to hand do not contact the landlord without checking with your lawyer in the first instance.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is ongoing. You may need to swallow your pride and discharge 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 will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unresolved.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share certificate. Organising a replacement share certificate can be a time consuming formality and slows down many a Freshwater Bay conveyancing transaction. Where a new share certificate is required, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.

    • I own a garden flat in Freshwater Bay, conveyancing was carried out in 1997. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Freshwater Bay with a long lease are worth £191,000. The average or mid-range amount of ground rent is £50 yearly. The lease ceases on 21st October 2078

    With only 53 years unexpired the likely cost is going to span between £28,500 and £33,000 plus legals.

    The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Freshwater Bay