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Frequently asked questions relating to Horfield leasehold conveyancing

I wish to rent out my leasehold apartment in Horfield. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

A small minority of properties in Horfield do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I am attracted to a two maisonettes in Horfield both have about 50 years remaining on the leases. should I be concerned?

There are plenty of short leases in Horfield. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the value of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area

What advice can you give us when it comes to choosing a Horfield conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Horfield conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Horfield conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • How many lease extensions have they completed in Horfield in the last twenty four months?
  • Can they put you in touch with client in Horfield who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in Horfield with the intention of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Horfield can be avoided where you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the buyers conveyancers.
    • Many freeholders or Management Companies in Horfield levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Horfield.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Horfield leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence from the Landlord consenting to such alterations. Where you dont have the approvals in place do not contact the landlord without checking with your solicitor in advance.
  • A minority of Horfield leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are 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 lawyers.
  • If you are supposed to have a share in the freehold, you should ensure that you hold the original share document. Organising a replacement share certificate is often a time consuming formality and delays many a Horfield home move. If a new share certificate is necessary, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.

    • If all goes to plan we aim to complete our sale of a £350000 apartment in Horfield in 10 days. The managing agents has quoted £384 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Horfield?

    Horfield conveyancing on leasehold flats often requires the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to assist. They are at liberty invoice a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee demanded by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, without which the invoice is technically not due. Reality however dictates that one has little choice but to pay whatever is requested of you should you wish to sell the property.

    I inherited a leasehold flat in Horfield, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Similar properties in Horfield with an extended lease are worth £233,000. The average or mid-range amount of ground rent is £45 yearly. The lease expires on 21st October 2104

    With only 80 years remaining on your lease 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 that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Horfield