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

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March leasehold conveyancing Example Support Desk Enquiries

Having had my offer accepted I require leasehold conveyancing in March. Before I get started I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and most are in March - 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.

My wife and I may need to sub-let our March ground floor flat for a while due to a new job. We used a March conveyancing firm in 2002 but they have since shut and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?

Some leases for properties in March do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold 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 have just appointed agents to market my ground floor flat in March.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge demand – what should I do?

The sensible thing to do is pay 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 management companies will not acknowledge the buyer until 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.

What are your top tips when it comes to choosing a March conveyancing practice to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a March conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non March conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • How many lease extensions has the firm carried out in March in the last twenty four months?
  • Can they put you in touch with client in March who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in March with the intention of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in March can be bypassed where you get in touch lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the purchasers’ conveyancers.
    • The majority landlords or managing agents in March levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in March.
  • Some March leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you have had conflict with your landlord or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and pay 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 particulars of the dispute to the buyers, but it is better to present the dispute as over rather than unsettled.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Obtaining a replacement share certificate can be a time consuming formality and frustrates many a March home move. If a duplicate share is required, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.

    • I am the registered owner of a leasehold flat in March, conveyancing formalities finalised in 2000. Can you work out an approximate cost of a lease extension? Corresponding flats in March with over 90 years remaining are worth £253,000. The ground rent is £45 per annum. The lease comes to an end on 21st October 2102

    With only 77 years left to run the likely cost is going to range between £10,500 and £12,000 as well as costs.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should 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 March