Guaranteed fixed fees for Leasehold Conveyancing in New Farnley

Get a Quote

Leasehold conveyancing in New Farnley is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in New Farnley and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Frequently asked questions relating to New Farnley leasehold conveyancing

Expecting to sign contracts shortly on a studio apartment in New Farnley. Conveyancing lawyers assured me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in New Farnley should include some of the following:

  • The physical extent of the demise. This will be the property itself but could also incorporate a loft or basement if applicable.
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • What you can do if a neighbour breach a clause of their lease? For details of the information to be included in your report on your leasehold property in New Farnley please enquire of your solicitor in advance of your conveyancing in New Farnley

    • I own a leasehold house in New Farnley. Conveyancing and Birmingham Midshires mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing solicitor in New Farnley who previously acted has long since retired.What should I do?

    First contact HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a New Farnley conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Last month I purchased a leasehold property in New Farnley. Do I have any liability for service charges for periods before my ownership?

    In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

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

    If you are instructing a solicitor for your lease extension (regardless if they are a New Farnley conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non New Farnley conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

    • Can they put you in touch with client in New Farnley who can give a testimonial?
  • What are the costs for lease extension work?

    • Do you have any advice for leasehold conveyancing in New Farnley with the intention of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in New Farnley can be bypassed where you instruct lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation needed by the buyers lawyers.
    • The majority landlords or managing agents in New Farnley 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 information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in New Farnley.
  • A minority of New Farnley leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain 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 solicitors.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share document. Arranging a replacement share certificate can be a lengthy formality and delays many a New Farnley conveyancing transaction. If a new share is necessary, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be advisable verify this by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is below 80 years. It is therefore essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • I bought a 1st floor flat in New Farnley, conveyancing having been completed 5 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in New Farnley with a long lease are worth £196,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ceases on 21st October 2089

    With 63 years left to run the likely cost is going to range between £15,200 and £17,600 as well as legals.

    The suggested premium range 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 in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously 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 New Farnley