Planning to sign contracts shortly on a basement flat in Penistone. Conveyancing lawyers assured me that they are sending me a report tomorrow. What should I be looking out for?

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

• The total extent of the property. This will be the apartment itself but could also include a roof space or cellar if appropriate.

Setting out your legal entitlements in respect of common areas in the building.For instance, does the lease grant a right of way over a path or hallways?

Are pets allowed in the flat?

Whether the lease restricts you from subletting the flat, or working from home

Ground rent - how much and when you need to pay, and also know whether this is subject to change

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

Repair and maintenance of the flat For details of the information to be included in your report on your leasehold property in Penistone please enquire of your conveyancer in advance of your conveyancing in Penistone

I own a leasehold house in Penistone. Conveyancing and Yorkshire Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Penistone who acted for me is not around.Do I pay?

First contact the Land Registry to make sure that this person is indeed the new freeholder. You do not need to incur the fees of a Penistone conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

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

If you are instructing a property lawyer for your lease extension (regardless if they are a Penistone conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Penistone conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

• What volume of lease extensions has the firm carried out in Penistone in the last 12 months?

Can they put you in touch with client in Penistone who can give a testimonial?

Can you provide any top tips for leasehold conveyancing in Penistone with the purpose of expediting the sale process?

• Much of the delay in leasehold conveyancing in Penistone can be reduced where you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the buyers solicitors.
• In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Penistone state that internal structural changes or addition of wooden flooring require a licence issued by the Landlord acquiescing to such works. If you dont have the consents in place do not contact the landlord without checking with your conveyancer before hand.

If you have had any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than unsettled.

If you hold a share in a the freehold, you should make sure that you hold the original share certificate. Organising a replacement share certificate can be a lengthy formality and slows down many a Penistone conveyancing transaction. If a duplicate share is required, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.

You believe that you know the number of years remaining on your lease but it would be advisable double-check by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. It is therefore 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 home on the market for sale.

Completion in due on the sale of our £475000 flat in Penistone on Friday in a week. The freeholder has quoted £384 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Penistone?

Penistone conveyancing on leasehold maisonettes nine out of ten times results in fees being invoiced by landlords agents :

• Addressing conveyancing due diligence enquiries
• Where consent is required before sale in Penistone
• 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 Penistone leasehold property is £350. For Penistone 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 provide answers.

I bought a 1 bedroom flat in Penistone, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Penistone with a long lease are worth £220,000. The average or mid-range amount of ground rent is £55 yearly. The lease finishes on 21st October 2089

With just 67 years unexpired the likely cost is going to span between £14,300 and £16,400 as well as professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. 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. You should not move forward based on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Penistone