Leasehold Conveyancing in Highnam - Get a Quote from the leasehold experts approved by your lender

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When it comes to leasehold conveyancing in Highnam, you will need to appoint a conveyancing solicitor with leasehold experience. Whether your lender is to be Santander, Birmingham Midshires or Bradford & Bingley make sure you choose a lawyer on their approved list. Feel free to use our search tool

Sample questions relating to Highnam leasehold conveyancing

I am on look out for some leasehold conveyancing in Highnam. Before I set the wheels in motion I want to be sure as to the remaining lease term.

Assuming the lease is registered - and 99.9% are in Highnam - 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.

Looking forward to complete next month on a ground floor flat in Highnam. Conveyancing lawyers have said that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Defining your rights in respect of the communal areas in the building.For instance, does the lease grant a right of way over an accessway or staircase?
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • You need to be told what constitutes a Nuisance in the lease
  • Changes to the flat (alterations and additions)
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises 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 For a comprehensive list of information to be contained in your report on your leasehold property in Highnam please enquire of your solicitor in advance of your conveyancing in Highnam

    • I am a negotiator for a busy estate agency in Highnam where we have experienced a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Highnam conveyancing firms. Can you confirm whether the vendor of a flat can start the lease extension formalities for the buyer?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence 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 for a lease extension. 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 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 purchaser.

    What advice can you give us when it comes to appointing a Highnam conveyancing practice to carry out our lease extension conveyancing?

    When appointing a solicitor for lease extension works (regardless if they are a Highnam conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Highnam conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

    • If they are not ALEP accredited then why not?
  • Can they put you in touch with client in Highnam who can give a testimonial?

    • Do you have any advice for leasehold conveyancing in Highnam with the aim of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Highnam can be avoided where you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers solicitors.
    • The majority freeholders or Management Companies in Highnam charge for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information sought 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 frustration in leasehold conveyancing in Highnam.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Highnam leases often stipulate that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Where you dont have the approvals in place do not communicate with the landlord without contacting your lawyer first.
  • If you have the benefit of shareholding in the freehold, you should make sure that you have the original share document. Obtaining a re-issued share certificate is often a time consuming process and frustrates many a Highnam conveyancing transaction. If a duplicate share certificate is necessary, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but you should verify this by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is less than 75 years. In the circumstances it is important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I own a split level flat in Highnam, conveyancing formalities finalised 2010. How much will my lease extension cost? Comparable flats in Highnam with over 90 years remaining are worth £180,000. The ground rent is £50 charged once a year. The lease comes to an end on 21st October 2082

    You have 57 years remaining on your lease we estimate the premium for your lease extension to span between £27,600 and £31,800 plus plus your own and the landlord's "reasonable" professional fees.

    The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Highnam