Guaranteed fixed fees for Leasehold Conveyancing in Langford

When it comes to leasehold conveyancing in Langford, you will need to appoint a conveyancing solicitor with leasehold experience. Whether your lender is to be Halifax, Yorkshire Building Society or Bradford & Bingley be sure to find a lawyer on their approved list. Find a Langford conveyancing lawyer with our search tool

Frequently asked questions relating to Langford leasehold conveyancing

I am on look out for some leasehold conveyancing in Langford. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is recorded at the land registry - and 99.9% are in Langford - then the leasehold title will always include the basic details 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.

I want to let out my leasehold apartment in Langford. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Even though your previous Langford conveyancing solicitor is no longer available you can check your lease to see if it allows you to sublet the property. The accepted inference is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you must obtain consent via your landlord or other appropriate person before subletting. The net result is that you cannot sublet without prior consent. Such consent should not be unreasonably turned down. If your lease prohibits you from letting out the property you should ask your landlord for their consent.

I am looking at a two flats in Langford which have about 50 years remaining on the leases. should I be concerned?

There are no two ways about it. A leasehold flat in Langford is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the value of the premises. For most buyers and banks, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 premises 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 Langford 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 the agreed 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.

We expect to complete the sale of our £225000 garden flat in Langford on Tuesday in a week. The freeholder has quoted £324 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Langford?

For the majority of leasehold sales in Langford conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

  • Addressing pre-exchange questions
  • Where consent is required before sale in Langford
  • Supplying insurance information
  • Deeds of covenant upon sale
  • Registering of the assignment of the change of lessee after a sale
Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Langford leasehold premises is £350. For Langford 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 obliged to supply answers.

Are there common deficiencies that you encounter in leases for Langford properties?

Leasehold conveyancing in Langford is not unique. All leases are unique 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 property
  • Insurance obligations
  • Clauses dealing with recovering service charges for expenditure on the building or common parts.
  • Service charge per centages that don't add up correctly leaving a shortfall

You could have difficulties 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, Norwich and Peterborough Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.

I purchased a garden flat in Langford, conveyancing formalities finalised 5 years ago. Can you work out an approximate cost of a lease extension? Similar properties in Langford with over 90 years remaining are worth £268,000. The ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2083

With 59 years left to run the likely cost is going to be between £22,800 and £26,400 plus professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Langford