Leasehold Conveyancing in Gloucester - Get a Quote from the leasehold experts approved by your lender

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Sample questions relating to Gloucester leasehold conveyancing

Estate agents have just been given the go-ahead to market my garden apartment in Gloucester.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

It best that you pay 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 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've recently bought a leasehold property in Gloucester. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you offer any advice when it comes to appointing a Gloucester conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Gloucester conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Gloucester 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 familiar is the firm with lease extension legislation?
  • Can they put you in touch with client in Gloucester who can give a testimonial?

We expect to complete our sale of a £ 225000 maisonette in Gloucester in just under a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Gloucester?

Gloucester conveyancing on leasehold flats more often than not necessitates the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries the majority will be willing to assist. They may invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The management information fee required by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, without which the charge is technically not due. Reality however dictates that one has no choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.

In relation to leasehold conveyancing in Gloucester what are the most common lease defects?

Leasehold conveyancing in Gloucester is not unique. All leases is drafted differently and drafting errors can result in certain sections are wrong. The following missing provisions could result in a defective lease:

  • A provision to repair to or maintain parts of the building
  • A duty to insure the building
  • Clauses dealing with recovering service charges for expenditure on the building or common parts.
  • Service charge per centages that don't add up correctly leaving a shortfall

You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Skipton Building Society, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

I inherited a 1 bedroom flat in Gloucester, conveyancing was carried out in 2011. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Gloucester with over 90 years remaining are worth £178,000. The ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2106

With only 80 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.