Leasehold Conveyancing in Ramsey - Get a Quote from the leasehold experts approved by your lender

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Sample questions relating to Ramsey leasehold conveyancing

I am in need of some leasehold conveyancing in Ramsey. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Ramsey - 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.

Frank (my husband) and I may need to rent out our Ramsey basement flat temporarily due to a new job. We used a Ramsey conveyancing practice in 2001 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?

A small minority of properties in Ramsey do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

What advice can you give us when it comes to finding a Ramsey conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Ramsey conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Ramsey conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • If they are not ALEP accredited then what is the reason?
  • Can they put you in touch with client in Ramsey who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Ramsey from the point of view of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Ramsey can be bypassed where you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ solicitors.
    • The majority freeholders or Management Companies in Ramsey charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Ramsey.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Ramsey state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. If you dont have the consents to hand you should not communicate with the landlord without contacting your lawyer in the first instance.
  • A minority of 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 put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is 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 buyers or their solicitors.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share certificate. Arranging a duplicate share certificate is often a time consuming process and delays many a Ramsey conveyancing transaction. Where a duplicate share certificate is needed, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £325000 maisonette in Ramsey in just under a week. The management company has quoted £312 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Ramsey?

    Ramsey conveyancing on leasehold flats more often than not involves the buyer’s lawyer submitting questions for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be content to do so. They may levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some transactions it is in excess of £800. The management information fee invoiced by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, otherwise the invoice is not strictly payable. Reality however dictates that one has little choice but to pay whatever is demanded should you wish to sell the property.

    Leasehold Conveyancing in Ramsey - Examples of Queries Prior to buying

      Does the lease have onerous restrictions? You should be aware that where the lease has less than 80 years it will affect the marketability of the apartment. Check with your bank that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will probably require a lease extension sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you will be required to have been the owner of the property for a couple of years in order to be eligible to extend the lease. The answer will be important as a) areas may cause problems in the building as the common areas may begin to deteriorate if maintenance are not paid for b) if the leaseholders have an issue with the running of the building you will want to have complete disclosure

    Other Topics

    Lease Extensions in Ramsey