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

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Examples of recent questions relating to leasehold conveyancing in Horfield

I am looking at a couple of flats in Horfield both have about forty five years remaining on the leases. should I be concerned?

A lease is a right to use the premises for a prescribed time frame. As the lease shortens the value of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this area

Can you offer any advice when it comes to choosing a Horfield conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Horfield conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Horfield conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

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

  • Do you have any top tips for leasehold conveyancing in Horfield with the purpose of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Horfield can be reduced where you instruct lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information needed by the purchasers’ conveyancers.
    • Many landlords or Management Companies in Horfield charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Horfield.
  • If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example installed wooden flooring? Horfield leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord approving such alterations. If you dont have the approvals to hand you should not communicate with the landlord without contacting your conveyancer before hand.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and pay 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 prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unsettled.
  • If you hold a share in a the Management Company, you should ensure that you hold the original share certificate. Organising a duplicate share certificate can be a time consuming formality and delays many a Horfield conveyancing deal. Where a new share certificate is needed, 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 £275000 apartment in Horfield on Wednesday in a week. The managing agents has quoted £420 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Horfield?

    Horfield conveyancing on leasehold apartments usually results in administration charges raised by freeholders :

    • Completing conveyancing due diligence questions
    • Where consent is required before sale in Horfield
    • Copies of the building insurance and schedule
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Horfield leasehold property is £350. For Horfield conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

    In relation to leasehold conveyancing in Horfield what are the most common lease defects?

    There is nothing unique about leasehold conveyancing in Horfield. Most leases are individual and drafting errors can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the building
    • A duty to insure the building
    • 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 primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , The Royal Bank of Scotland, and Britannia all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.

    Horfield Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing

      What restrictions are there in the Horfield Lease? Is anyone aware of any major works in the planning that will likely increase the service fees? Is there a share of the freehold?

    Other Topics

    Lease Extensions in Horfield