Fixed-fee leasehold conveyancing in Glossop:

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

Top Five Questions relating to Glossop leasehold conveyancing

Looking forward to complete next month on a studio apartment in Glossop. Conveyancing solicitors inform me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Glossop should include some of the following:

  • You should receive a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The physical extent of the premises. This will be the property itself but could also incorporate a loft or basement if appropriate.
  • Are you allowed to have a pet in the flat?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required For details of the information to be contained in your report on your leasehold property in Glossop please ask your lawyer in ahead of your conveyancing in Glossop

    • I own a leasehold flat in Glossop. Conveyancing and Lloyds TSB Bank mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Glossop who acted for me is not around.What should I do?

    First make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Glossop conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am a negotiator for a long established estate agent office in Glossop where we see a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Glossop conveyancing solicitors. Could you shed some light as to whether the owner of a flat can commence the lease extension process for the buyer?

    Provided that the seller has been the owner 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 sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

    An alternative approach is 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 are your top tips when it comes to appointing a Glossop conveyancing firm to carry out our lease extension conveyancing?

    When appointing a conveyancer for your lease extension (regardless if they are a Glossop conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Glossop conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

    • What volume of lease extensions has the firm carried out in Glossop in the last year?
  • Can they put you in touch with client in Glossop who can give a testimonial?

    • Do you have any advice for leasehold conveyancing in Glossop with the purpose of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Glossop can be reduced if you instruct lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information needed by the purchasers’ conveyancers.
    • Many freeholders or managing agents in Glossop levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Glossop.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you installed wooden flooring? Glossop leases often stipulate that internal structural changes or installing wooden flooring calls for a licence from the Landlord approving such works. Should you dont have the consents in place you should not contact the landlord without checking with your conveyancer first.
  • If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You will have to accept that you will have to 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 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 clearly preferable to reveal the dispute as historic rather than unresolved.
  • You believe that you know the number of years left on your lease but you should verify this by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is under 80 years. It is therefore 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 home on the market for sale.

    • I am the registered owner of a 2 bed flat in Glossop, conveyancing was carried out 2005. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Glossop with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease terminates on 21st October 2089

    You have 65 years left to run we estimate the price of your lease extension to span between £12,400 and £14,200 plus costs.

    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 without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered 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 Glossop