I am in need of some leasehold conveyancing in Needham Market. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Needham Market - 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.

Back In 2009, I bought a leasehold flat in Needham Market. Conveyancing and Lloyds TSB Bank mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Needham Market who previously acted has now retired.Do I pay?

First make enquiries of HMLR to make sure that this person is indeed the new freeholder. There is no need to incur the fees of a Needham Market conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

What advice can you give us when it comes to finding a Needham Market conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Needham Market conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Needham Market conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• How familiar is the practice with lease extension legislation?

How many lease extensions has the firm conducted in Needham Market in the last twenty four months?

Can you provide any top tips for leasehold conveyancing in Needham Market from the perspective of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Needham Market can be bypassed if you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold information needed by the buyers conveyancers.
• The majority freeholders or managing agents in Needham Market charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Needham Market.

A minority of Needham Market 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. Any bank reference should make it clear that the buyer is able to meet 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.

If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share certificate. Organising a replacement share certificate is often a lengthy process and frustrates many a Needham Market conveyancing deal. Where a duplicate share certificate is required, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.

You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to where the lease term is under 75 years. In the circumstances it is essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £250000 garden flat in Needham Market on Wednesday in a week. The freeholder has quoted £396 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Needham Market?

For most leasehold sales in Needham Market conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing pre-contract enquiries
• Where consent is required before sale in Needham Market
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Needham Market leasehold premises is £350. For Needham Market conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

Needham Market Conveyancing for Leasehold Flats - Examples of Queries before buying

The prefered form of lease arrangement is a share of the freehold. In this arrangement the lessees have control and even though a managing agent is often employed if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. Who takes responsibility for maintaining and repairing the block? On the whole the outlay for major works tend not to be included within service charges, although a few managing agents in Needham Market ask leasehold owners to pay into a sinking fund created for the specific purpose of building a fund for larger works.

Other Topics

Lease Extensions in Needham Market