Fixed-fee leasehold conveyancing in Poundbury:

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Examples of recent questions relating to leasehold conveyancing in Poundbury

I am on look out for some leasehold conveyancing in Poundbury. Before diving in I want to be sure as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and most are in Poundbury - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Due to sign contracts shortly on a studio apartment in Poundbury. Conveyancing solicitors assured me that they report fully within the next couple of days. What should I be looking out for?

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

  • Are you allowed to have a pet in the flat?
  • You must be told what constitutes a Nuisance in the lease
  • Repair and maintenance of the flat
  • 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.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames
  • What options are open to you if a neighbour breach a clause of their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Poundbury please ask your solicitor in ahead of your conveyancing in Poundbury

  • I have just appointed agents to market my 2 bed flat in Poundbury.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge demand – what should I do?

    The sensible thing to do is discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

    I've found a house that appears to be perfect, at a great price which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Poundbury. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

    Most houses in Poundbury are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Poundbury so you should seriously consider shopping around for a Poundbury conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your conveyancer will advise you fully on all the issues.

    I am employed by a reputable estate agent office in Poundbury where we have experienced a few leasehold sales put at risk as a result of short leases. I have been given contradictory information from local Poundbury conveyancing firms. Could you confirm whether the vendor of a flat can start 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with 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.

    I acquired a ground floor flat in Poundbury, conveyancing was carried out 2012. Can you work out an approximate cost of a lease extension? Comparable flats in Poundbury with over 90 years remaining are worth £230,000. The average or mid-range amount of ground rent is £50 per annum. The lease runs out on 21st October 2090

    With only 66 years unexpired we estimate the price of your lease extension to be between £14,300 and £16,400 plus plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Poundbury