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

While any conveyancing practice can theoretically deal with 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

Examples of recent questions relating to leasehold conveyancing in Richmond

I am on look out for some leasehold conveyancing in Richmond. Before I get started I require certainty as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Richmond - then the leasehold title will always include the short particulars 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 sign contracts shortly on a basement flat in Richmond. Conveyancing lawyers assured me that they are sending me a report within the next couple of days. What should I be looking out for?

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

  • Setting out your legal entitlements in relation to common areas in the building.By way of example, does the lease permit a right of way over an accessway or staircase?
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • You should be told what counts as a Nuisance in the lease
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • 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.
  • What you can do if a neighbour breach a clause of their lease? 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 have just appointed agents to market my basement apartment in Richmond.Conveyancing is yet to be initiated but I have just had a quarterly service charge demand – Do I pay up?

    The sensible thing to do is discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

    I am employed by a long established estate agency in Richmond where we have witnessed a number of leasehold sales put at risk as a result of short leases. I have received contradictory information from local Richmond conveyancing solicitors. Please can you confirm whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?

    As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having 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 disposal of the property.

    Alternatively, it may be possible to agree the lease extension with the freeholder 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 purchaser.

    What advice can you give us when it comes to appointing a Richmond conveyancing firm to deal with our lease extension?

    When appointing a solicitor for your lease extension (regardless if they are a Richmond conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Richmond conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

    • If the firm is not ALEP accredited then what is the reason?
  • What are the charges for lease extension work?

  • I purchased a basement flat in Richmond, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Richmond with a long lease are worth £191,000. The ground rent is £60 yearly. The lease ceases on 21st October 2080

    You have 56 years unexpired the likely cost is going to range between £25,700 and £29,600 plus 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 provide a more accurate figure in the absence of detailed due diligence. You should not use the figures 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. Neither should you take any other action based on this information without first getting professional advice.