Guaranteed fixed fees for Leasehold Conveyancing in Radcliffe

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When it comes to leasehold conveyancing in Radcliffe, you will need to appoint a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Clydesdale , Birmingham Midshires or Nationwide be sure to find a lawyer on their panel. Find a Radcliffe conveyancing lawyer with our search tool

Recently asked questions relating to Radcliffe leasehold conveyancing

My partner and I may need to let out our Radcliffe ground floor flat temporarily due to a career opportunity. We instructed a Radcliffe conveyancing practice in 2003 but they have closed and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?

A lease dictates the relationship between the freeholder and you the flat owner; specifically, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Radcliffe do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it more attractive. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Radcliffe. Conveyancing advisers have are soon to be instructed. Will they explain the issues?

Most houses in Radcliffe are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Radcliffe so you should seriously consider shopping around for a Radcliffe 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 with the house. The lease comes with conditions such as requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your conveyancer should report to you on the legal implications.

Last month I purchased a leasehold flat in Radcliffe. Am I liable to pay service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

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

  • A significant proportion of the delay in leasehold conveyancing in Radcliffe can be bypassed if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ solicitors.
  • The majority landlords or managing agents in Radcliffe charge for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Radcliffe.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Radcliffe state that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord acquiescing to such changes. Where you dont have the consents to hand you should not communicate with the landlord without checking with your lawyer in the first instance.
  • If you hold a share in a the Management Company, you should make sure that you hold the original share document. Obtaining a re-issued share certificate can be a time consuming process and slows down many a Radcliffe conveyancing transaction. Where a reissued share is required, do contact the company director and secretary or managing agents (if relevant) for this as soon as possible.
  • You believe that you know the number of years left on your lease but you should verify this via your lawyers. A buyer’s lawyer will not be happy to advise their client to where the lease term is below 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

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

    Leasehold conveyancing in Radcliffe is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:

    • Repairing obligations 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

    You will encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Virgin Money, and Britannia all have express 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, forcing the purchaser to withdraw.

    I bought a basement flat in Radcliffe, conveyancing formalities finalised 6 years ago. How much will my lease extension cost? Comparable flats in Radcliffe with a long lease are worth £193,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease finishes on 21st October 2096

    You have 71 years remaining on your lease we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as legals.

    The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Radcliffe