Guaranteed fixed fees for Leasehold Conveyancing in Highbridge

Get a Quote

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

Recently asked questions relating to Highbridge leasehold conveyancing

Planning to sign contracts shortly on a basement flat in Highbridge. Conveyancing solicitors have said that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Highbridge should include some of the following:

  • You should be sent a copy of the lease
  • How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
  • The total extent of the premises. This will be the property itself but could also include a roof space or basement if applicable.
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Whether your lease has a provision for a reserve fund?
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Highbridge please enquire of your conveyancer in advance of your conveyancing in Highbridge

    • I have just started marketing my 2 bed apartment in Highbridge.Conveyancing has not commenced but I have just received a half-yearly maintenance charge demand – Do I pay up?

    The sensible thing to do is pay 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 until 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 work for a long established estate agency in Highbridge where we have witnessed a number of flat sales jeopardised as a result of short leases. I have been given contradictory information from local Highbridge conveyancing firms. Could you confirm whether the owner of a flat can commence 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. The benefit of this is that the buyer can avoid having 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.

    Alternatively, it may be possible 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 top tips for leasehold conveyancing in Highbridge from the perspective of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Highbridge can be bypassed if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the buyers representatives.
    • The majority freeholders or managing agents in Highbridge charge for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Highbridge.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Highbridge state that internal structural changes or laying down wooden flooring require a licence issued by the Landlord approving such alterations. Where you dont have the consents in place you should not contact the landlord without contacting your solicitor before hand.
  • If you hold a share in a the Management Company, you should ensure that you have the original share document. Organising a replacement share certificate is often a time consuming process and delays many a Highbridge home move. If a reissued share is required, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • What are the frequently found problems that you see in leases for Highbridge properties?

    Leasehold conveyancing in Highbridge is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the premises
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Bank of Scotland, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.

    Highbridge Conveyancing for Leasehold Flats - Sample of Queries before Purchasing

      It would be wise to find out if there is anything that is prohibited in the lease. By way of example plenty of leases prohibit pets being allowed in certain buildings in Highbridge. If you like the flatin Highbridge however your dog can’t make the move with you then you will be faced difficult decision. Plenty Highbridge leasehold apartments will incur a service bill for the upkeep of the block set on behalf of the landlord. If you purchase the flat you will have to meet this amount, normally quarterly throughout the year. This may be anything from two or three hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. There will also be a rentcharge to be met annual, normally this is not a significant sum, say about £50-£100 but you need to enquire as on occasion it can be many hundreds of pounds. Its a good idea to discover as much as possible about the managing agents as they will either make your life much easier or problematic. Being a leasehold owner you will be in the clutches of the managing agents both financially and when it comes to day to day issues like the tidiness of the communal areas. Ask prospective neighbours whether they are happy with them. Finally, find out the dates that you are obliged pay the service charge to the relevant party and specifically what you get for your money.

    Other Topics

    Lease Extensions in Highbridge