Quality lawyers for Leasehold Conveyancing in Ramsey

When it comes to leasehold conveyancing in Ramsey, you will need to chose a conveyancing lawyer with leasehold experience. Whether your lender is to be Halifax, Birmingham Midshires or NatWest make sure you find a lawyer on their panel. Feel free to use our search tool

Examples of recent questions relating to leasehold conveyancing in Ramsey

My fiance and I may need to let out our Ramsey 1st floor flat temporarily due to a career opportunity. We instructed a Ramsey conveyancing practice in 2003 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Your lease dictates relations between the freeholder and you the leaseholder; specifically, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Ramsey do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

I am attracted to a two flats in Ramsey both have in the region of forty five years left on the leases. should I be concerned?

There are plenty of short leases in Ramsey. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the marketability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this arena

I've recently bought a leasehold property in Ramsey. Do I have any liability for service charges for periods before my ownership?

Where the service charge has already been demanded from the previous lessee 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. A critical element 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 Ramsey from the perspective of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Ramsey can be reduced if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the buyers solicitors.
  • Some Ramsey leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have had conflict with your freeholder or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than ongoing.
  • If you hold a share in a the Management Company, you should ensure that you hold the original share certificate. Organising a re-issued share certificate is often a lengthy formality and delays many a Ramsey conveyancing transaction. If a new share certificate is required, do contact the company officers or managing agents (if applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

  • If all goes to plan we aim to complete the disposal of our £125000 maisonette in Ramsey on Thursday in a week. The managing agents has quoted £300 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Ramsey?

    Ramsey conveyancing on leasehold maisonettes usually involves administration charges invoiced by landlords agents :

    • Completing pre-exchange questions
    • Where consent is required before sale in Ramsey
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Ramsey leasehold property is £350. For Ramsey 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.

    Ramsey Leasehold Conveyancing - Examples of Queries Prior to buying

      What is the name of the managing agents? You should want to discover as much as you can concerning the managing agents as they will either make your living at the property much simpler or problematic. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to every day issues such as the cleanliness of the common parts. Enquire of other people whether they are happy with their service. In conclusion, investigate as to the dates that you are obliged pay the maintenance charge to the relevant party and precisely what it includes. It is important to be aware whether redecorating or some other major work is coming up to be shared by the leasehold owners and will materially impact the level of the service fees or result in a one off invoice.

    Other Topics

    Lease Extensions in Ramsey