Experts for Leasehold Conveyancing in St Margarets

Get a Quote

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

Common questions relating to St Margarets leasehold conveyancing

My husband and I may need to sub-let our St Margarets 1st floor flat temporarily due to a career opportunity. We used a St Margarets conveyancing firm in 2003 but they have closed and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?

Some leases for properties in St Margarets do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I am attracted to a two maisonettes in St Margarets which have in the region of 50 years remaining on the leases. Will this present a problem?

A lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the value of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this arena

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

If you are instructing a conveyancer for lease extension works (regardless if they are a St Margarets conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non St Margarets conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

  • If the firm is not ALEP accredited then why not?
  • Can they put you in touch with client in St Margarets who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in St Margarets from the point of view of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in St Margarets can be reduced if you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the buyers solicitors.
    • Many freeholders or managing agents in St Margarets charge for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in St Margarets.
  • Some St Margarets leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice 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 annual 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or resolve 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 are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to unresolved.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Arranging a new share certificate can be a time consuming process and slows down many a St Margarets conveyancing deal. Where a duplicate share certificate is necessary, do contact the company officers or managing agents (if applicable) for this as soon as possible.

    • Following months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in St Margarets. Can we issue an application to the Residential Property Tribunal Service?

    in cases where there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to arrive at the premium.

    An example of a Lease Extension matter before the tribunal for a St Margarets residence is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case affected 1 flat. The unexpired term was 60.45 years.

    What makes a St Margarets lease unmortgageable?

    Leasehold conveyancing in St Margarets is not unique. Most leases are unique and drafting errors can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the premises
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You will encounter 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. Santander, Barnsley Building Society, and Nottingham Building Society 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 does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.

    Other Topics

    Lease Extensions in St Margarets