Fixed-fee leasehold conveyancing in Quedgeley:

While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Quedgeley, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Quedgeley leasehold conveyancing: Q and A’s

My wife and I may need to sub-let our Quedgeley 1st floor flat temporarily due to a new job. We instructed a Quedgeley conveyancing practice in 2003 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your previous Quedgeley conveyancing solicitor is no longer around you can check your lease to check if you are permitted to let out the property. The rule is that if the deeds are silent, subletting is permitted. There may be a precondition that you need to obtain permission via your landlord or other appropriate person before subletting. The net result is that you cannot sublet without prior permission. Such consent must not not be unreasonably turned down. If your lease prohibits you from letting out the property you should ask your landlord for their consent.

I have just started marketing my garden apartment in Quedgeley.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge invoice – Do I pay up?

It best that you 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. This will smooth the conveyancing process.

I am tempted by the attractive purchase price for a two apartments in Quedgeley which have in the region of 50 years left on the lease term. Will this present a problem?

A lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the value of the lease decreases 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 companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena

We expect to complete our sale of a £225000 garden flat in Quedgeley in just under a week. The landlords agents has quoted £408 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Quedgeley?

Quedgeley conveyancing on leasehold apartments often requires the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be content to do so. They may invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some situations it is in excess of £800. The administration charge demanded by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, without which the charge is technically not due. Reality however dictates that one has little option but to pay whatever is demanded should you wish to exchange contracts with the buyer.

When it comes to leasehold conveyancing in Quedgeley what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Quedgeley. All leases are unique and drafting errors can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

  • A provision to repair to or maintain elements of the property
  • Insurance obligations
  • Clauses dealing with recovering service charges for expenditure on the building or common parts.
  • Service charge per centages that don't add up correctly leaving a shortfall

You may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Norwich and Peterborough Building Society, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.

I invested in buying a garden flat in Quedgeley, conveyancing having been completed 1998. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Quedgeley with a long lease are worth £249,000. The ground rent is £45 yearly. The lease finishes on 21st October 2079

With just 58 years unexpired we estimate the premium for your lease extension to be between £29,500 and £34,000 as well as legals.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.

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Lease Extensions in Quedgeley