Guaranteed fixed fees for Leasehold Conveyancing in New Rossington

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When it comes to leasehold conveyancing in New Rossington, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Halifax, Yorkshire Building Society or Nationwide make sure you find a lawyer on their approved list. Find a New Rossington conveyancing lawyer with our search tool

Examples of recent questions relating to leasehold conveyancing in New Rossington

I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in New Rossington. Conveyancing advisers have not yet been appointed. Will they explain the issues?

The majority of houses in New Rossington are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in New Rossington in which case you should be looking for a New Rossington conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should advise you fully on all the issues.

I work for a busy estate agency in New Rossington where we have experienced a few leasehold sales put at risk due to short leases. I have been given conflicting advice from local New Rossington conveyancing firms. Please can you confirm whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that 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 need not have to sit tight for 2 years to extend their lease. 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 disposal of the property.

An alternative approach is 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.

Can you offer any advice when it comes to appointing a New Rossington conveyancing practice to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a New Rossington conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non New Rossington conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • How many lease extensions have they completed in New Rossington in the last 12 months?
  • What are the legal fees for lease extension work?

    • Do you have any advice for leasehold conveyancing in New Rossington with the purpose of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in New Rossington can be bypassed where you appoint lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation needed by the buyers solicitors.
    • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in New Rossington state that internal structural changes or installing wooden flooring necessitate a licence from the Landlord approving such changes. If you dont have the approvals in place do not communicate with the landlord without contacting your solicitor first.
  • Some New Rossington leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly 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 purchasers or their solicitors.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share certificate. Arranging a replacement share certificate is often a time consuming formality and frustrates many a New Rossington home move. If a new share is required, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is 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 premises on the market for sale.

    • If all goes to plan we aim to complete the sale of our £275000 flat in New Rossington on Friday in a week. The managing agents has quoted £384 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in New Rossington?

    New Rossington conveyancing on leasehold maisonettes more often than not necessitates the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries most will be content to do so. They may charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it exceeds £800. The administration charge levied by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, without which the charge is technically not due. In reality you have no choice but to pay whatever is requested of you should you wish to sell the property.

    New Rossington Conveyancing for Leasehold Flats - A selection of Queries Prior to buying

      Best to be warned whether changing the roof or some other major work is anticipated to be shared between the tenants and could well dramatically increase the the maintenance costs or result in a one time payment. Who is in charge of the building? How much is the maintenance charge and ground rent on the flat?

    Other Topics

    Lease Extensions in New Rossington