Fixed-fee leasehold conveyancing in Griffithstown:

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While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Griffithstown, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Top Five Questions relating to Griffithstown leasehold conveyancing

I only have Sixty One years left on my lease in Griffithstown. I need to get lease extension but my freeholder is missing. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to prove that you have made all reasonable attempts to track down the freeholder. For most situations an enquiry agent would be helpful to conduct investigations and to produce a report to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s absence and the application to the County Court covering Griffithstown.

I have just started marketing my basement apartment in Griffithstown.Conveyancing is yet to be initiated but I have just received a quarterly service charge demand – what should I do?

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 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. Having a clear account will assist your cause and will leave you no worse off financially.

What are your top tips when it comes to finding a Griffithstown conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Griffithstown conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Griffithstown conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

  • How familiar is the practice with lease extension legislation?
  • What are the charges for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in Griffithstown with the aim of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Griffithstown can be reduced if you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold information which will be required by the buyers solicitors.
    • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Griffithstown state that internal structural changes or addition of wooden flooring require a licence from the Landlord consenting to such works. Where you dont have the consents in place do not communicate with the landlord without checking with your lawyer in the first instance.
  • Some Griffithstown leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If there is a history of conflict with your freeholder or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to ongoing.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 75 years. It is therefore important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • What makes a Griffithstown lease problematic?

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

    • Repairing obligations to or maintain parts of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Skipton Building Society, and TSB all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.

    I bought a basement flat in Griffithstown, conveyancing having been completed 1995. Can you work out an approximate cost of a lease extension? Equivalent flats in Griffithstown with a long lease are worth £178,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ceases on 21st October 2099

    With just 74 years left to run we estimate the price of your lease extension to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Griffithstown