Expecting to sign contracts shortly on a basement flat in North Ferriby. Conveyancing solicitors have said that they will have a report out to me tomorrow. What should I be looking out for?

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

• You should be sent a copy of the lease

Does the lease require carpeting throughout thus preventing wood flooring?

Will you be prohibited or prevented from having pets in the property?

Whether the lease restricts you from letting out the property, or working from home

You should be told what constitutes a Nuisance in the lease

Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?

Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in North Ferriby please ask your conveyancer in advance of your conveyancing in North Ferriby

I am attracted to a couple of apartments in North Ferriby both have in the region of 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in North Ferriby. The lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area

What are your top tips when it comes to choosing a North Ferriby conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a North Ferriby conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non North Ferriby conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• Can they put you in touch with client in North Ferriby who can give a testimonial?

What are the charges for lease extension conveyancing?

Can you provide any advice for leasehold conveyancing in North Ferriby from the perspective of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in North Ferriby can be avoided if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the buyers solicitors.
• The majority landlords or managing agents in North Ferriby levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in North Ferriby.

In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? North Ferriby leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord approving such alterations. Where you fail to have the approvals to hand you should not communicate with the landlord without checking with your lawyer in advance.

If you hold a share in a the Management Company, you should ensure that you are holding the original share document. Obtaining a duplicate share certificate is often a time consuming formality and slows down many a North Ferriby conveyancing deal. If a new share certificate is necessary, you should approach the company officers or managing agents (if relevant) for this sooner rather than later.

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 lawyer will not be happy to advise their client to where the remaining number of years is below 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

All being well we will complete our sale of a £475000 flat in North Ferriby in nine days. The management company has quoted £384 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in North Ferriby?

For most leasehold sales in North Ferriby conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Answering pre-contract questions
• Where consent is required before sale in North Ferriby
• 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 North Ferriby leasehold property is £350. For North Ferriby 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 obliged to supply the information.

I am the registered owner of a 2 bed flat in North Ferriby, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in North Ferriby with an extended lease are worth £254,000. The ground rent is £55 invoiced every year. The lease terminates on 21st October 2090

With just 65 years remaining on your lease we estimate the price of your lease extension to range between £14,300 and £16,400 plus professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.

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Lease Extensions in North Ferriby