Guaranteed fixed fees for Leasehold Conveyancing in Montacute

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Common questions relating to Montacute leasehold conveyancing

I am intending to rent out my leasehold apartment in Montacute. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

A small minority of properties in Montacute do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience dictates 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 2 bed flat in Montacute.Conveyancing has not commenced but I have just had a quarterly service charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is clear 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 management companies 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 am a negotiator for a long established estate agency in Montacute where we have experienced a number of leasehold sales put at risk due to short leases. I have been given inconsistent advice from local Montacute conveyancing solicitors. Can you confirm whether the vendor 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser 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 has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 Montacute from the point of view of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Montacute can be bypassed if you appoint lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the buyers solicitors.
  • The majority landlords or Management Companies in Montacute charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have 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 Montacute.
  • If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Montacute state that internal structural changes or laying down wooden flooring calls for a licence from the Landlord consenting to such works. Should you fail to have the approvals in place do not communicate with the landlord without checking with your conveyancer before hand.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is a current 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 ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to ongoing.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 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 home on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £225000 flat in Montacute next Thursday . The managing agents has quoted £360 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Montacute?

    Montacute conveyancing on leasehold apartments more often than not necessitates the buyer’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions the majority will be content to assist. They are at liberty invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, without which the invoice is technically not due. In reality you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

    Montacute Conveyancing for Leasehold Flats - Sample of Queries before Purchasing

      The answer will be useful as a) areas can result in problems for the building as the common areas may start to deteriorate if repairs remain unpaid b) if the tenants have an issue with the running of the building you will want to have all the details Are any of leasehold owners in dispute over their service charge liability? Best to be warned if changing the roof or some other significant cost is due in the near future to be shared amongst the leasehold owners and may well materially increase the the service charges or necessitate a one off invoice.

    Other Topics

    Lease Extensions in Montacute