Fixed-fee leasehold conveyancing in Mickleover:

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Sample questions relating to Mickleover leasehold conveyancing

My husband and I may need to sub-let our Mickleover basement flat temporarily due to taking a sabbatical. We used a Mickleover conveyancing firm in 2001 but they have since shut and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?

Notwithstanding that your previous Mickleover conveyancing lawyer is not available you can check your lease to see if it allows you to sublet the premises. The accepted inference is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you must seek permission from your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet in the absence of prior permission. Such consent must not not be unreasonably turned down. If the lease prohibits you from letting out the property you should ask your landlord for their consent.

I’m about to sell my 2 bed apartment in Mickleover.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 pay the service charge 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 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.

I am tempted by the attractive purchase price for a couple of apartments in Mickleover which have approximately fifty years unexpired on the leases. Will this present a problem?

There are plenty of short leases in Mickleover. The lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and results in it becoming more costly to extend the lease. This is why it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field

What advice can you give us when it comes to finding a Mickleover conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Mickleover conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Mickleover conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

  • What volume of lease extensions have they conducted in Mickleover in the last 12 months?
  • What are the costs for lease extension work?

    • Can you provide any advice for leasehold conveyancing in Mickleover with the purpose of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Mickleover can be reduced where you instruct lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information which will be required by the buyers lawyers.
    • The majority landlords or Management Companies in Mickleover levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Mickleover.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Mickleover leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord approving such changes. If you dont have the approvals in place you should not contact the landlord without contacting your solicitor before hand.
  • If you have had any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be warry about purchasing a flat where a dispute is unsettled. You may have to bite the bullet and discharge any arrears of service charge or resolve 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 purchasers, but it is clearly preferable to reveal the dispute as over rather than ongoing.
  • If you hold a share in a the Management Company, you should ensure that you hold the original share document. Obtaining a duplicate share certificate is often a lengthy formality and delays many a Mickleover home move. Where a reissued share is needed, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible.

    • I invested in buying a studio flat in Mickleover, conveyancing was carried out 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Mickleover with a long lease are worth £218,000. The average or mid-range amount of ground rent is £55 yearly. The lease comes to an end on 21st October 2095

    With only 69 years remaining on your lease we estimate the price of your lease extension to range between £12,400 and £14,200 as well as professional fees.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Mickleover