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

When it comes to leasehold conveyancing in Upton, you will need to instruct a conveyancing lawyer with leasehold experience. Whether your lender is to be Halifax, Birmingham Midshires or Bradford & Bingley make sure you choose a lawyer on their approved list. Find a Upton conveyancing lawyer with our search tool

Common questions relating to Upton leasehold conveyancing

Planning to sign contracts shortly on a garden flat in Upton. Conveyancing lawyers inform me that they report fully next week. Are there areas in the report that I should be focusing on?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Setting out your legal entitlements in respect of common areas in the block.By way of example, does the lease grant a right of way over an accessway or staircase?
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • 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
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Upton please ask your lawyer in advance of your conveyancing in Upton

  • I have just appointed agents to market my basement apartment in Upton.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge demand – what should I do?

    It best that you 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 work for a long established estate agent office in Upton where we have witnessed a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Upton conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can instigate the lease extension formalities 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

    An alternative approach is 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.

    Can you provide any top tips for leasehold conveyancing in Upton with the purpose of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Upton can be reduced if you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers lawyers.
    • If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Upton state that internal structural changes or installing wooden flooring require a licence from the Landlord acquiescing to such works. If you fail to have the consents in place do not communicate with the landlord without contacting your solicitor first.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be nervous about purchasing a property where a dispute is unresolved. You may need to swallow your pride and 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 prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as over rather than ongoing.
  • If you hold a share in a the freehold, you should ensure that you hold the original share document. Organising a re-issued share certificate is often a time consuming process and delays many a Upton conveyancing transaction. Where a reissued share certificate is required, you should approach the company officers or managing agents (where applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is less than 75 years. It is therefore essential at an as soon as possible 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 £300000 apartment in Upton in six days. The managing agents has quoted £336 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Upton?

    Upton conveyancing on leasehold flats typically results in fees being raised by managing agents :

    • Completing conveyancing due diligence enquiries
    • Where consent is required before sale in Upton
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Upton leasehold property is £350. For Upton 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 required to supply answers.

    I have attempted and failed to negotiate with my landlord to extend my lease without success. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Upton conveyancing firm to act on my behalf?

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

    An example of a Lease Extension decision for a Upton property is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The the unexpired term as at the valuation date was 76 years.

    Other Topics

    Lease Extensions in Upton