Guaranteed fixed fees for Leasehold Conveyancing in Headington

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

Headington leasehold conveyancing: Q and A’s

Planning to sign contracts shortly on a ground floor flat in Headington. Conveyancing lawyers assured me that they report fully next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Headington should include some of the following:

  • The total extent of the premises. This will be the flat itself but might include a loft or basement if applicable.
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Headington please enquire of your lawyer in advance of your conveyancing in Headington

    • I today plan to offer on a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Headington. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

    The majority of houses in Headington are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Headington so you should seriously consider shopping around for a Headington conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your lawyer should advise you fully on all the issues.

    I work for a busy estate agent office in Headington where we have witnessed a few flat sales put at risk due to leases having less than 80 years remaining. I have received contradictory information from local Headington conveyancing solicitors. Could you clarify whether the seller of a flat can instigate the lease extension formalities for the buyer?

    Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with 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 purchaser.

    What advice can you give us when it comes to appointing a Headington conveyancing practice to deal with our lease extension?

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

    • If the firm is not ALEP accredited then what is the reason?
  • What volume of lease extensions has the firm conducted in Headington in the last twenty four months?

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

    • A significant proportion of the delay in leasehold conveyancing in Headington can be bypassed where you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers lawyers.
    • The majority landlords or managing agents in Headington charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Headington.
  • If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Headington leases often stipulate 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 to hand you should not communicate with the landlord without contacting your solicitor first.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be concerned about purchasing a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than unresolved.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your lawyers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 80 years. It is therefore essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I bought a basement flat in Headington, conveyancing was carried out 6 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Headington with a long lease are worth £269,000. The average or mid-range amount of ground rent is £50 per annum. The lease finishes on 21st October 2103

    With 78 years left to run we estimate the price of your lease extension to be between £11,400 and £13,200 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 are not able to advice on a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Headington