Guaranteed fixed fees for Leasehold Conveyancing in Rise Park

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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Rise Park, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Rise Park leasehold conveyancing: Q and A’s

Jane (my partner) and I may need to rent out our Rise Park garden flat for a while due to taking a sabbatical. We instructed a Rise Park conveyancing firm in 2001 but they have since shut and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?

Notwithstanding that your previous Rise Park conveyancing solicitor is no longer available you can review your lease to check if you are permitted to let out the apartment. The rule is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you must obtain consent via your landlord or some other party prior to subletting. The net result is you not allowed to sublet without first obtaining consent. The consent should not be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

Expecting to exchange soon on a basement flat in Rise Park. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. What should I be looking out for?

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

  • You should be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Repair and maintenance of the flat
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Responsibility for repairing the window frames
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Rise Park please ask your conveyancer in ahead of your conveyancing in Rise Park

    • My wife and I purchased a leasehold flat in Rise Park. Conveyancing and Birmingham Midshires mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Rise Park who acted for me is not around.What should I do?

    The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Rise Park conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I am attracted to a couple of flats in Rise Park which have approximately 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

    There is no doubt about it. A leasehold apartment in Rise Park is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. The majority of buyers and banks, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Rise Park conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

    Do you have any top tips for leasehold conveyancing in Rise Park from the point of view of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Rise Park can be reduced if you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ lawyers.
    • The majority freeholders or managing agents in Rise Park charge for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Rise Park.
  • Some Rise Park leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the annual 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be concerned about purchasing a flat where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. 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 better to reveal the dispute as over as opposed to unresolved.
  • If you hold a share in a the freehold, you should ensure that you have the original share certificate. Obtaining a new share certificate is often a time consuming formality and delays many a Rise Park home move. If a duplicate share is needed, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later.

    • I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Rise Park conveyancing firm to represent me?

    Absolutely. We can put you in touch with a Rise Park conveyancing firm who can help.

    An example of a Lease Extension case for a Rise Park flat is Flat b 14 Kemble Road in May 2014. The Tribunal assessed the value of the premium payable for the lease extension to be £9,761 This case related to 1 flat.

    Other Topics

    Lease Extensions in Rise Park