Leasehold Conveyancing in Newport Pagnell - Get a Quote from the leasehold experts approved by your lender

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Top Five Questions relating to Newport Pagnell leasehold conveyancing

My husband and I may need to sub-let our Newport Pagnell basement flat temporarily due to a new job. We used a Newport Pagnell conveyancing firm in 2004 but they have closed and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Notwithstanding that your last Newport Pagnell conveyancing lawyer is not available you can review your lease to see if it allows you to sublet the property. The accepted inference is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you need to seek permission from your landlord or other appropriate person before subletting. The net result is you not allowed to sublet without prior permission. The consent is not allowed to be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord for their consent.

You should [be sent a copy of the lease|receive a copy of the lease]

Due to sign contracts shortly on a basement flat in Newport Pagnell. Conveyancing lawyers inform me that they will have a report out to me next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Newport Pagnell should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
  • Are pets allowed in the flat?
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • 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.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
For a comprehensive list of information to be contained in your report on your leasehold property in Newport Pagnell please ask your solicitor in advance of your conveyancing in Newport Pagnell

Back In 2008, I bought a leasehold flat in Newport Pagnell. Conveyancing and Yorkshire Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Newport Pagnell who previously acted has now retired.Do I pay?

First make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Newport Pagnell conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

If all goes to plan we aim to complete the sale of our £ 425000 garden flat in Newport Pagnell on Wednesday in a week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Newport Pagnell?

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

  • Addressing pre-contract questions
  • Where consent is required before sale in Newport Pagnell
  • Supplying insurance information
  • Deeds of covenant upon sale
  • Registering of the assignment of the change of lessee after a sale
Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Newport Pagnell leasehold premises is £350. For Newport Pagnell 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.

When it comes to leasehold conveyancing in Newport Pagnell what are the most common lease problems?

There is nothing unique about leasehold conveyancing in Newport Pagnell. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

  • A provision to repair to or maintain elements of the property
  • A duty to insure the building
  • Clauses dealing with recovering service charges for expenditure on the building or common parts.
  • Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Bank of Scotland, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.

I inherited a studio flat in Newport Pagnell, conveyancing having been completed 2005. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Newport Pagnell with over 90 years remaining are worth £229,000. The average or mid-range amount of ground rent is £60 yearly. The lease expires on 21st October 2100

With just 74 years remaining on your lease the likely cost is going to range between £10,500 and £12,000 plus legals.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.