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

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Recently asked questions relating to Belmont leasehold conveyancing

My wife and I may need to let out our Belmont basement flat for a while due to a career opportunity. We used a Belmont conveyancing firm in 2004 but they have since shut and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?

Even though your last Belmont conveyancing lawyer is no longer around you can check your lease to check if it allows you to sublet the premises. The rule is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you are obliged to obtain consent via your landlord or other appropriate person prior to subletting. The net result is you not allowed to sublet in the absence of first obtaining permission. Such consent is not allowed to be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

I today plan to offer on a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Belmont. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

The majority of houses in Belmont are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Belmont so you should seriously consider looking for a Belmont conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your solicitor should appraise you on the various issues.

What are your top tips when it comes to choosing a Belmont conveyancing firm to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Belmont conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Belmont conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

  • If the firm is not ALEP accredited then why not?
  • What are the charges for lease extension conveyancing?

Do you have any advice for leasehold conveyancing in Belmont from the perspective of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Belmont can be avoided where you appoint lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the buyers representatives.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Belmont state that internal structural changes or installing wooden flooring require a licence issued by the Landlord consenting to such alterations. Where you dont have the approvals to hand do not contact the landlord without checking with your solicitor first.
  • Some Belmont leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet the yearly 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride 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 ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to present the dispute as over rather than ongoing.
  • You believe that you know the number of years left on your lease but you should double-check via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to where the lease term is below 75 years. In the circumstances it is essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £ 375000 maisonette in Belmont next week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Belmont?

Belmont conveyancing on leasehold flats ordinarily results in administration charges invoiced by freeholders :

  • Completing pre-exchange enquiries
  • Where consent is required before sale in Belmont
  • Supplying insurance information
  • 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 Belmont leasehold property is £350. For Belmont 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.

I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Belmont conveyancing firm to represent me?

in cases where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to calculate the price payable.

An example of a Lease Extension matter before the tribunal for a Belmont premises is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case affected 1 flat. The the number of years remaining on the existing lease(s) was 60.43 years.

I own a ground floor flat in Belmont, conveyancing formalities finalised in 2009. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Belmont with an extended lease are worth £238,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease terminates on 21st October 2083

With 57 years remaining on your lease we estimate the price of your lease extension to range between £30,400 and £35,200 as well as 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 advice on a more accurate figure without more detailed investigations. Do not use this information 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. Neither should you move forward placing reliance on this information before seeking the advice of a professional.