Guaranteed fixed fees for Leasehold Conveyancing in Llanishen

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Recently asked questions relating to Llanishen leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Llanishen. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is registered - and almost all are in Llanishen - 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.

Due to sign contracts shortly on a leasehold property in Llanishen. Conveyancing solicitors have said that they are sending me a report tomorrow. What should I be looking out for?

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

  • You should be sent a copy of the lease
  • The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a sinking fund?
  • Repair and maintenance of the flat
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • 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 details of the information to be included in your report on your leasehold property in Llanishen please ask your conveyancer in advance of your conveyancing in Llanishen

    • Do you have any top tips for leasehold conveyancing in Llanishen from the point of view of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Llanishen can be bypassed if you appoint lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
    • Many freeholders or managing agents in Llanishen levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Llanishen.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Llanishen leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord approving such changes. Should you dont have the consents in place do not contact the landlord without contacting your solicitor first.
  • If you are supposed to have a share in the Management Company, you should make sure that you hold the original share certificate. Arranging a duplicate share certificate can be a time consuming formality and delays many a Llanishen conveyancing deal. If a new share certificate is required, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is below 75 years. In the circumstances it is essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • We expect to complete the disposal of our £225000 garden flat in Llanishen in six days. The managing agents has quoted £336 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Llanishen?

    Llanishen conveyancing on leasehold apartments more often than not requires the buyer’s conveyancer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be content to assist. They are at liberty invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it is above £800. The administration charge invoiced by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, otherwise the invoice is technically not due. Reality however dictates that you have no choice but to pay whatever is requested of you if you want to complete the sale of your home.

    What makes a Llanishen lease problematic?

    Leasehold conveyancing in Llanishen is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the building
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Bank of Scotland, and Alliance & Leicester 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 defective they may refuse to provide security, forcing the buyer to pull out.

    I inherited a 1st floor flat in Llanishen, conveyancing having been completed in 2007. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Llanishen with a long lease are worth £240,000. The ground rent is £60 levied per year. The lease comes to an end on 21st October 2102

    You have 77 years remaining on your lease we estimate the price of your lease extension to range between £11,400 and £13,200 plus professional fees.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Llanishen