Fixed-fee leasehold conveyancing in Sacriston:

When it comes to leasehold conveyancing in Sacriston, you will need to chose a conveyancing practitioner with leasehold experience. Whether your lender is to be Santander, Birmingham Midshires or Bradford & Bingley be sure to find a lawyer on their panel. Find a Sacriston conveyancing lawyer with our search tool

Common questions relating to Sacriston leasehold conveyancing

I am in need of some leasehold conveyancing in Sacriston. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Sacriston - then the leasehold title will always include the short particulars 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.

Having checked my lease I have discovered that there are only Sixty One years remaining on my flat in Sacriston. I am keen to extend my lease but my landlord is can not be found. What are my options?

If you meet the appropriate requirements, 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 extended by the Court. However, you will be required to demonstrate that you have used your best endeavours to find the landlord. For most situations a specialist should be helpful to conduct investigations and prepare a report to be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Sacriston.

I am tempted by the attractive purchase price for a two flats in Sacriston which have approximately 50 years remaining on the lease term. Do I need to be concerned?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this field

Do you have any top tips for leasehold conveyancing in Sacriston with the intention of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Sacriston can be avoided where you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the buyers lawyers.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Sacriston leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence from the Landlord approving such works. Where you fail to have the consents in place you should not communicate with the landlord without contacting your lawyer first.
  • A minority of Sacriston leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to present the dispute as historic rather than ongoing.
  • If you hold a share in a the Management Company, you should ensure that you hold the original share document. Obtaining a new share certificate can be a lengthy formality and slows down many a Sacriston home move. Where a reissued share is needed, do contact the company director and secretary or managing agents (if relevant) for this as soon as possible.

  • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £125000 flat in Sacriston in just under a week. The landlords agents has quoted £384 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Sacriston?

    Sacriston conveyancing on leasehold maisonettes nine out of ten times results in fees being levied by management companies :

    • Addressing pre-exchange questions
    • Where consent is required before sale in Sacriston
    • Copies of the building insurance and schedule
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Sacriston leasehold premises is £350. For Sacriston 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.

    I inherited a split level flat in Sacriston, conveyancing having been completed in 2009. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Sacriston with an extended lease are worth £245,000. The ground rent is £65 levied per year. The lease comes to an end on 21st October 2095

    With 71 years unexpired we estimate the premium for your lease extension to span between £9,500 and £11,000 plus professional fees.

    The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Sacriston