Guaranteed fixed fees for Leasehold Conveyancing in Grangetown

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Frequently asked questions relating to Grangetown leasehold conveyancing

Expecting to sign contracts shortly on a leasehold property in Grangetown. Conveyancing solicitors inform me that they report fully tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Grangetown should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Are you allowed to have a pet in the flat?
  • Whether your lease has a provision for a sinking fund?
  • Repair and maintenance of the flat
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For a comprehensive list of information to be included in your report on your leasehold property in Grangetown please ask your solicitor in ahead of your conveyancing in Grangetown

  • I've found a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Grangetown. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Grangetown ?

    The majority of houses in Grangetown are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Grangetown so you should seriously consider shopping around for a Grangetown conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor should advise you fully on all the issues.

    Do you have any advice for leasehold conveyancing in Grangetown with the intention of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Grangetown can be reduced where you instruct lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the buyers conveyancers.
    • The majority landlords or Management Companies in Grangetown levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Grangetown.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Grangetown state that internal structural changes or installing wooden flooring necessitate a licence from the Landlord approving such works. Where you fail to have the paperwork in place you should not communicate with the landlord without contacting your conveyancer before hand.
  • A minority of Grangetown leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is able to meet the annual 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share certificate. Obtaining a replacement share certificate can be a time consuming formality and delays many a Grangetown conveyancing deal. Where a reissued share certificate is required, you should approach the company officers or managing agents (if relevant) for this sooner rather than later.

  • Completion in due on the disposal of our £475000 garden flat in Grangetown in just under a week. The management company has quoted £312 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Grangetown?

    For the majority of leasehold sales in Grangetown conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

    • Addressing pre-exchange enquiries
    • Where consent is required before sale in Grangetown
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Grangetown leasehold premises is £350. For Grangetown conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

    When it comes to leasehold conveyancing in Grangetown what are the most common lease defects?

    Leasehold conveyancing in Grangetown is not unique. All leases are individual and legal mistakes in the legal wording can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the property
    • A duty to insure the building
    • 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 will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Chelsea Building Society, and Clydesdale all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    I purchased a 1st floor flat in Grangetown, conveyancing was carried out 5 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Grangetown with over 90 years remaining are worth £200,000. The ground rent is £50 charged once a year. The lease terminates on 21st October 2100

    With just 76 years unexpired the likely cost is going to range between £8,600 and £9,800 plus costs.

    The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Grangetown