Guaranteed fixed fees for Leasehold Conveyancing in Handsworth

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

Handsworth leasehold conveyancing Example Support Desk Enquiries

I am in need of some leasehold conveyancing in Handsworth. Before diving in I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Handsworth - then the leasehold title will always include the short particulars 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 am attracted to a couple of maisonettes in Handsworth which have in the region of 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Handsworth is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. The majority of purchasers and mortgage companies, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Handsworth conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Can you offer any advice when it comes to choosing a Handsworth conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Handsworth conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Handsworth conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • How experienced is the practice with lease extension legislation?
  • Can they put you in touch with client in Handsworth who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Handsworth from the perspective of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Handsworth can be bypassed if you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation needed by the purchasers’ solicitors.
    • Many landlords or managing agents in Handsworth charge for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Handsworth.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Handsworth state that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Should you dont have the consents in place do not communicate with the landlord without contacting your lawyer before hand.
  • If you have had any disputes with your landlord or managing agents it is very important that these are resolved 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 discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than unresolved.
  • If you hold a share in a the Management Company, you should make sure that you hold the original share document. Organising a duplicate share certificate is often a time consuming process and slows down many a Handsworth conveyancing deal. Where a reissued share is necessary, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.

    • We expect to complete the disposal of our £400000 flat in Handsworth in seven days. The landlords agents has quoted £360 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Handsworth?

    Handsworth conveyancing on leasehold flats more often than not requires the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to address such questions the majority will be content to assist. They may charge a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, otherwise the invoice is not strictly payable. Reality however dictates that one has no option but to pay whatever is demanded if you want to exchange contracts with the buyer.

    I inherited a 1 bedroom flat in Handsworth, conveyancing was carried out 4 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Handsworth with an extended lease are worth £199,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ends on 21st October 2103

    You have 79 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 plus legals.

    The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

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    Lease Extensions in Handsworth