Fixed-fee leasehold conveyancing in Manningtree:

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Frequently asked questions relating to Manningtree leasehold conveyancing

I am intending to rent out my leasehold apartment in Manningtree. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Your lease dictates relations between the freeholder and you the leaseholder; specifically, it will set out if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Manningtree do not contain an absolute prevention of subletting – such a provision would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

Looking forward to sign contracts shortly on a basement flat in Manningtree. Conveyancing lawyers have said that they report fully next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Manningtree 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 informed of the importance of not letting the lease term falling below eighty years
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • You must be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • You should have a good understanding of the insurance provisions
  • 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. For a comprehensive list of information to be included in your report on your leasehold property in Manningtree please enquire of your lawyer in advance of your conveyancing in Manningtree

    • I am tempted by the attractive purchase price for a two maisonettes in Manningtree which have about forty five years remaining on the lease term. Will this present a problem?

    There are plenty of short leases in Manningtree. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease decreases and results in it becoming more costly to extend the lease. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena

    What advice can you give us when it comes to choosing a Manningtree conveyancing firm to carry out our lease extension conveyancing?

    When appointing a conveyancer for lease extension works (regardless if they are a Manningtree conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Manningtree conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

    • What volume of lease extensions have they carried out in Manningtree in the last twenty four months?
  • What are the legal fees for lease extension work?

    • If all goes to plan we aim to complete our sale of a £425000 maisonette in Manningtree in just under a week. The management company has quoted £360 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Manningtree?

    Manningtree conveyancing on leasehold maisonettes normally necessitates the buyer’s conveyancer sending questions for the landlord to address. Although the landlord is under no legal obligation to address these enquiries most will be content to do so. They are at liberty levy a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The management information fee invoiced by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, otherwise the charge is not strictly payable. In reality one has no option but to pay whatever is demanded if you want to complete the sale of your home.

    I inherited a 1st floor flat in Manningtree, conveyancing was carried out 2003. Can you work out an approximate cost of a lease extension? Comparable flats in Manningtree with a long lease are worth £241,000. The ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2077

    You have 52 years left to run we estimate the premium for your lease extension to be between £31,400 and £36,200 as well as professional fees.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Manningtree