Fixed-fee leasehold conveyancing in Mountsorrel:

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When it comes to leasehold conveyancing in Mountsorrel, you will need to chose a conveyancing practitioner with leasehold experience. Whether your lender is to be Santander, RBS or Nationwide make sure you choose a lawyer on their approved list. Feel free to use our search tool

Common questions relating to Mountsorrel leasehold conveyancing

I want to rent out my leasehold apartment in Mountsorrel. 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 governs relations between the landlord and you the flat owner; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Mountsorrel do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

Estate agents have just been given the go-ahead to market my basement flat in Mountsorrel.Conveyancing has not commenced but I have just received a yearly service charge invoice – 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

I work for a long established estate agency in Mountsorrel where we have witnessed a number of flat sales put at risk due to short leases. I have been given conflicting advice from local Mountsorrel conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.

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

If you are instructing a conveyancer for your lease extension (regardless if they are a Mountsorrel conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Mountsorrel conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

  • If they are not ALEP accredited then what is the reason?
  • What are the charges for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in Mountsorrel from the point of view of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Mountsorrel can be avoided if you get in touch lawyers the minute your agents start marketing the property and ask them to collate the leasehold information needed by the purchasers’ representatives.
    • The majority landlords or managing agents in Mountsorrel levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack 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 cause of frustration in leasehold conveyancing in Mountsorrel.
  • If there is a history of 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 reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to 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 particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than unresolved.
  • If you are supposed to have a share in the freehold, you should make sure that you hold the original share certificate. Organising a re-issued share certificate can be a lengthy formality and delays many a Mountsorrel home move. Where a new share is required, you should approach the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 80 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Leasehold Conveyancing in Mountsorrel - Examples of Queries before buying

      Plenty Mountsorrel leasehold flats will have a service bill for maintenance of the block invoiced on behalf of the management company. Should you acquire the apartment you will have to pay this charge, normally periodically accross the year. This may differ from several hundred pounds to thousands of pounds for blocks with lifts and large common grounds. There will also be a rentcharge for you to pay annual, ordinarily this is not a large amount, say about £25-£75 but you need to check as on occasion it can be surprisingly expensive. What restrictions are contained in the Mountsorrel Lease? Is anyone aware of any major works in the planning that could increase the maintenance costs?

    Other Topics

    Lease Extensions in Mountsorrel