Fixed-fee leasehold conveyancing in Richmond:

While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Richmond, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Top Five Questions relating to Richmond leasehold conveyancing

I am in need of some leasehold conveyancing in Richmond. Before I get started I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and most are in Richmond - 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.

Expecting to exchange soon on a studio apartment in Richmond. Conveyancing solicitors inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

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

  • The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The physical extent of the premises. This will be the apartment itself but might incorporate a loft or basement if applicable.
  • Defining your rights in relation to common areas in the block.E.G., does the lease contain a right of way over an accessway or staircase?
  • 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 rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? For a comprehensive list of information to be contained in your report on your leasehold property in Richmond please enquire of your solicitor in advance of your conveyancing in Richmond

  • I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Richmond. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Richmond ?

    The majority of houses in Richmond are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Richmond so you should seriously consider shopping around for a Richmond conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your solicitor should appraise you on the various issues.

    I am employed by a long established estate agency in Richmond where we see a few flat sales derailed due to short leases. I have been given contradictory information from local Richmond conveyancing solicitors. Could you shed some light as to whether the owner of a flat can commence the lease extension process for the buyer?

    Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

    An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

    We expect to complete the sale of our £250000 apartment in Richmond on Wednesday in a week. The freeholder has quoted £336 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Richmond?

    Richmond conveyancing on leasehold apartments often involves the buyer’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries most will be content to do so. They may charge a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some transactions it is in excess of £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, without which the charge is technically not due. In reality one has no option but to pay whatever is requested of you should you wish to sell the property.

    Richmond Leasehold Conveyancing - Examples of Queries before Purchasing

      Is there a share of the freehold? How much is the ground rent and service charge? For many Richmond leaseholds the outlay for major works are not included within service charges, although some managing agents in Richmond ask leaseholders to contribute towards a reserve fund created for the specific purpose of establishing a fund for larger repairs or maintenance.