Fixed-fee leasehold conveyancing in Kimberley:

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Leasehold conveyancing in Kimberley is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Kimberley and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Frequently asked questions relating to Kimberley leasehold conveyancing

I want to sublet my leasehold flat in Kimberley. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Your lease dictates the relationship between the landlord and you the flat owner; specifically, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Kimberley do not contain an absolute prevention of subletting – such a clause would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

I am looking at a couple of maisonettes in Kimberley both have approximately forty five years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Kimberley is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. The majority of purchasers and banks, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Kimberley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

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

When appointing a property lawyer for lease extension works (regardless if they are a Kimberley conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Kimberley conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

  • If the firm is not ALEP accredited then what is the reason?
  • Can they put you in touch with client in Kimberley who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in Kimberley from the perspective of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Kimberley can be reduced where you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information needed by the buyers lawyers.
    • The majority landlords or managing agents in Kimberley levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. 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 common cause of frustration in leasehold conveyancing in Kimberley.
  • If you have had conflict with your landlord or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be warry about purchasing a property where a dispute is unresolved. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. 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 reveal the dispute as over rather than ongoing.
  • If you hold a share in a the Management Company, you should ensure that you hold the original share certificate. Arranging a replacement share certificate is often a time consuming process and frustrates many a Kimberley home move. If a reissued share certificate is necessary, do contact 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 remaining on your lease but you should 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 remaining number of years is under 80 years. It is therefore important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • When it comes to leasehold conveyancing in Kimberley what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in Kimberley. Most leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the premises
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Virgin Money, and Clydesdale 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 provide security, obliging the purchaser to pull out.

    I bought a ground floor flat in Kimberley, conveyancing formalities finalised in 1996. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Kimberley with an extended lease are worth £238,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ceases on 21st October 2089

    With 64 years left to run the likely cost is going to range between £20,000 and £23,000 as well as professional fees.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Kimberley