Fixed-fee leasehold conveyancing in Headington:

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When it comes to leasehold conveyancing in Headington, you will need to chose a conveyancing lawyer with leasehold experience. Whether your lender is to be Lloyds, Birmingham Midshires or NatWest make sure you choose a lawyer on their approved list. Feel free to use our search tool

Recently asked questions relating to Headington leasehold conveyancing

I have just started marketing my basement flat in Headington.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge invoice – Do I pay up?

It best that you discharge the service charge 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.

I am employed by a busy estate agency in Headington where we have witnessed a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Headington conveyancing solicitors. Please can you confirm whether the owner of a flat can commence the lease extension formalities for the buyer?

As long as the seller has been the owner 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. This means that the buyer need not have 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 prior to, or at the same time as completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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.

Can you provide any top tips for leasehold conveyancing in Headington from the point of view of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Headington can be reduced where you instruct lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the buyers solicitors.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Headington state that internal structural alterations or laying down wooden flooring require a licence from the Landlord approving such alterations. Where you dont have the approvals to hand you should not communicate with the landlord without contacting your lawyer in advance.
  • A minority of Headington leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying 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 service charge figures 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 resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle 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 are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unsettled.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share document. Obtaining a replacement share certificate can be a lengthy process and delays many a Headington home move. Where a new share is necessary, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.

    • All being well we will complete the disposal of our £475000 apartment in Headington in just under a week. The landlords agents has quoted £408 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Headington?

    Headington conveyancing on leasehold maisonettes more often than not necessitates the purchaser’s conveyancer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to assist. They are at liberty levy a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, without which the charge is not strictly payable. In reality you have little choice but to pay whatever is requested of you if you want to complete the sale of your home.

    What are the frequently found deficiencies that you encounter in leases for Headington properties?

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

    • A provision to repair 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.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Barnsley Building Society, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.

    Leasehold Conveyancing in Headington - Examples of Queries before buying

      The best form of lease structure is where the freehold interest is in the ownership of the leaseholders. In this scenario the leaseholders enjoy being in charge if their destiny and notwithstanding that a managing agent is frequently retained if the building is larger than a house conversion, the managing agent is directed by the tenants. You should want to find out as much as you can about the managing agents as they will either make your life much simpler or uncomfortable. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to practical matters such as the upkeep of the communal areas. Ask other people if they are happy with them. On a final note, investigate as to the dates that the maintenance charges are due to the managing agents and precisely what you get for your money. Is the freehold reversion owned collectively by the tenants?

    Other Topics

    Lease Extensions in Headington