Fixed-fee leasehold conveyancing in Greystones:

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Frequently asked questions relating to Greystones leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Greystones. Before I get started I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and most are in Greystones - 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.

Jane (my partner) and I may need to let out our Greystones basement flat temporarily due to a career opportunity. We used a Greystones conveyancing firm in 2002 but they have since shut and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?

A small minority of properties in Greystones do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I am a negotiator for a long established estate agent office in Greystones where we see a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Greystones conveyancing firms. Could you confirm whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease 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. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as 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 buyer.

Do you have any advice for leasehold conveyancing in Greystones from the point of view of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Greystones can be reduced where you get in touch lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ lawyers.
  • Many freeholders or Management Companies in Greystones levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Greystones.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Greystones leases often stipulate that internal structural changes or installing wooden flooring calls for 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 checking with your solicitor before hand.
  • Some Greystones 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 bank and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Arranging a re-issued share certificate can be a time consuming formality and delays many a Greystones conveyancing transaction. Where a duplicate share is necessary, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £475000 flat in Greystones in seven days. The management company has quoted £408 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Greystones?

    Greystones conveyancing on leasehold maisonettes more often than not necessitates the buyer’s solicitor submitting questions for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries the majority will be willing 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 information that you are referring to is £350, in some situations it exceeds £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, otherwise 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.

    I invested in buying a studio flat in Greystones, 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? Similar flats in Greystones with an extended lease are worth £265,000. The ground rent is £55 yearly. The lease comes to an end on 21st October 2084

    With 58 years remaining on your lease the likely cost is going to be between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.

    The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Greystones