Guaranteed fixed fees for Leasehold Conveyancing in Godmanchester

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Leasehold conveyancing in Godmanchester 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 Godmanchester and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Sample questions relating to Godmanchester leasehold conveyancing

Harry (my fiance) and I may need to rent out our Godmanchester ground floor flat for a while due to a career opportunity. We instructed a Godmanchester conveyancing practice in 2001 but they have since shut and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?

Your lease governs the relationship between the freeholder and you the flat owner; in particular, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Godmanchester do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

I’m about to sell my 2 bed flat in Godmanchester.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am looking at a two flats in Godmanchester which have in the region of forty five years left on the leases. Will this present a problem?

There are plenty of short leases in Godmanchester. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the value of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field

Can you provide any top tips for leasehold conveyancing in Godmanchester with the purpose of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Godmanchester can be bypassed if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ solicitors.
  • Many freeholders or Management Companies in Godmanchester levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Godmanchester.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Godmanchester state that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. Should you fail to have the approvals in place do not communicate with the landlord without checking with your solicitor in the first instance.
  • Some Godmanchester 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 obtain financial (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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • You believe that you know the number of years left on your lease but you should double-check by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is below 80 years. It is therefore important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • We expect to complete our sale of a £225000 apartment in Godmanchester on Wednesday in a week. The freeholder has quoted £408 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Godmanchester?

    Godmanchester conveyancing on leasehold maisonettes more often than not involves the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is not legally bound to answer these enquiries the majority will be content to assist. They are at liberty levy a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, otherwise the charge is not strictly payable. Reality however dictates that you have no option but to pay whatever is demanded if you want to exchange contracts with the buyer.

    Leasehold Conveyancing in Godmanchester - Examples of Questions you should ask Prior to Purchasing

      This question is useful as a) areas could result in problems for the block as the communal areas may start to deteriorate if services are not paid for b) if the tenants have an issue with the running of the building you will wish to have all the details Where a Godmanchester lease has no more than 80 years it will impact the value of the property. It is worth checking with your lender that they are happy with remaining years on the lease. Leases with less than 80 years remaining means that you will almost definitely need a lease extension sooner rather than later and you need to have some idea of how much this will be. For most Godmanchesterlease extensions you would need to own the property for two years before you are eligible to extend the lease. What is the maintenance charge and ground rent on the flat?

    Other Topics

    Lease Extensions in Godmanchester