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

Leasehold conveyancing in Rumney is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Rumney and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Rumney leasehold conveyancing: Q and A’s

I have recently realised that I have Fifty years unexpired on my flat in Rumney. I now want to get lease extension but my landlord is missing. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to locate the freeholder. On the whole a specialist would be helpful to carry out a search and prepare a report which can be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a property lawyer both on proving the landlord’s disappearance and the application to the County Court overseeing Rumney.

Looking forward to exchange soon on a basement flat in Rumney. Conveyancing lawyers assured me that they report fully within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Rumney should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The physical extent of the demise. This will be the flat itself but may incorporate a roof space or cellar if applicable.
  • Whether your lease has a provision for a reserve fund?
  • You should have a good understanding of the insurance provisions
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For a comprehensive list of information to be contained in your report on your leasehold property in Rumney please ask your conveyancer in ahead of your conveyancing in Rumney

  • Can you offer any advice when it comes to appointing a Rumney conveyancing firm to deal with our lease extension?

    If you are instructing a property lawyer for your lease extension (regardless if they are a Rumney conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Rumney conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

    • Can they put you in touch with client in Rumney who can give a testimonial?
  • What are the costs for lease extension conveyancing?

  • Do you have any top tips for leasehold conveyancing in Rumney with the intention of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Rumney can be reduced where you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
    • Many landlords or Management Companies in Rumney levy fees for providing management packs for a leasehold homes. 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 accelerating the process. 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 Rumney.
  • Some Rumney leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any 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 buyers or their solicitors.
  • If you are supposed to have a share in the freehold, you should ensure that you are holding the original share certificate. Obtaining a duplicate share certificate can be a time consuming formality and delays many a Rumney home move. If a duplicate share certificate is necessary, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but you should verify this by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to where the lease term is below 75 years. It is therefore essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

  • Completion in due on our sale of a £375000 apartment in Rumney next Thursday . The freeholder has quoted £396 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Rumney?

    Rumney conveyancing on leasehold flats often requires the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be content to do so. They are at liberty levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The administration charge levied by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, without which the charge is not strictly payable. In reality one has no option but to pay whatever is requested of you should you wish to sell the property.

    I inherited a ground floor flat in Rumney, conveyancing formalities finalised 9 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Rumney with over 90 years remaining are worth £169,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ends on 21st October 2081

    With just 59 years left to run the likely cost is going to range between £21,900 and £25,200 plus legals.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Rumney