Fixed-fee leasehold conveyancing in Great Barford:

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Common questions relating to Great Barford leasehold conveyancing

I am on look out for some leasehold conveyancing in Great Barford. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

Assuming the lease is registered - and most are in Great Barford - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I have just appointed agents to market my garden flat in Great Barford.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should 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 unless 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.

Can you provide any advice for leasehold conveyancing in Great Barford with the intention of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Great Barford can be reduced if you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ solicitors.
  • The majority landlords or Management Companies in Great Barford charge for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Great Barford.
  • If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you installed wooden flooring? Great Barford leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord consenting to such alterations. If you dont have the approvals to hand do not contact the landlord without checking with your solicitor before hand.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to ongoing.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the lease term is under 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £250000 garden flat in Great Barford in just under a week. The freeholder has quoted £324 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Great Barford?

    Great Barford conveyancing on leasehold flats usually involves the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to do so. They are entitled levy a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some situations it exceeds £800. The management information fee required by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, otherwise the invoice is not strictly payable. Reality however dictates that you have little choice but to pay whatever is requested of you if you want to complete the sale of your home.

    Are there frequently found defects that you see in leases for Great Barford properties?

    There is nothing unique about leasehold conveyancing in Great Barford. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the building
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Chelsea Building Society, and Alliance & Leicester 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, forcing the purchaser to withdraw.

    I purchased a garden flat in Great Barford, conveyancing was carried out in 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Great Barford with over 90 years remaining are worth £255,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ends on 21st October 2093

    You have 68 years unexpired we estimate the price of your lease extension to be between £13,300 and £15,400 as well as 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 provide a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Great Barford