Fixed-fee leasehold conveyancing in Lydney:

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Any conveyancing practice can theoretically handle your leasehold conveyancing in Lydney, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Lydney leasehold conveyancing: Q and A’s

Due to complete next month on a leasehold property in Lydney. Conveyancing lawyers inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

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

  • You should receive a copy of the lease
  • The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
  • Whether the lease restricts you from renting out the property, or having a home office for business
  • 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.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What options are open to you if a neighbour breach a clause of their lease? For details of the information to be included in your report on your leasehold property in Lydney please ask your solicitor in advance of your conveyancing in Lydney

    • I have just started marketing my garden apartment in Lydney.Conveyancing has not commenced but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

    Your conveyancing lawyer is likely to suggest that you should 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.

    Back In 2003, I bought a leasehold house in Lydney. Conveyancing and Accord Mortgages Ltd mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Lydney who acted for me is not around.What should I do?

    The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Lydney conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    Do you have any top tips for leasehold conveyancing in Lydney with the aim of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Lydney can be avoided where you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the buyers lawyers.
    • Many landlords or managing agents in Lydney charge for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Lydney.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Lydney leases often stipulate that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord approving such alterations. If you dont have the paperwork in place do not communicate with the landlord without contacting your solicitor first.
  • If you have had conflict with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than unsettled.
  • You believe that you know the number of years left on your lease but you should verify this by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the lease term is under 75 years. It is therefore important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Completion in due on our sale of a £300000 garden flat in Lydney next week. The managing agents has quoted £372 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Lydney?

    Lydney conveyancing on leasehold maisonettes often requires the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be willing to assist. They may charge a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The management information fee required by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, otherwise the invoice is not strictly payable. In reality you have no choice but to pay whatever is requested of you should you wish to complete the sale of your home.

    I invested in buying a basement flat in Lydney, conveyancing was carried out in 2006. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Lydney with a long lease are worth £239,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ends on 21st October 2084

    With 58 years remaining on your lease we estimate the premium for your lease extension to span between £24,700 and £28,600 as well as professional fees.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. 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. Please do not move forward based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Lydney