Experts for Leasehold Conveyancing in Sandbanks

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Common questions relating to Sandbanks leasehold conveyancing

I am in need of some leasehold conveyancing in Sandbanks. Before I get started I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and almost all are in Sandbanks - 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.

My fiance and I may need to let out our Sandbanks garden flat for a while due to a new job. We instructed a Sandbanks conveyancing firm in 2003 but they have closed and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?

Notwithstanding that your previous Sandbanks conveyancing lawyer is not around you can review your lease to see if it allows you to sublet the apartment. The rule is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you must seek permission via your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet in the absence of first obtaining permission. The consent should not be unreasonably turned down. If your lease prohibits you from subletting the property you should ask your landlord for their consent.

Can you offer any advice when it comes to appointing a Sandbanks conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Sandbanks conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Sandbanks conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • If the firm is not ALEP accredited then why not?
  • What are the charges for lease extension conveyancing?

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

    • Much of the frustration in leasehold conveyancing in Sandbanks can be bypassed if you get in touch lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ lawyers.
    • Many freeholders or Management Companies in Sandbanks charge for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Sandbanks.
  • Some Sandbanks leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents 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 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 lawyers.
  • If you hold a share in a the freehold, you should ensure that you are holding the original share certificate. Organising a duplicate share certificate is often a time consuming process and frustrates many a Sandbanks home move. If a duplicate share certificate is necessary, do contact the company officers or managing agents (if relevant) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but it would be advisable verify this by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is under 75 years. In the circumstances it is essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • All being well we will complete the disposal of our £400000 flat in Sandbanks in just under a week. The landlords agents has quoted £324 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Sandbanks?

    Sandbanks conveyancing on leasehold maisonettes usually involves the buyer’s lawyer submitting questions for the landlord to address. Although the landlord is not legally bound to answer these enquiries the majority will be content to assist. They are at liberty charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, otherwise the invoice is not strictly payable. Reality however dictates that you have little option but to pay whatever is demanded if you want to complete the sale of your home.

    I bought a studio flat in Sandbanks, conveyancing formalities finalised 2000. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Sandbanks with a long lease are worth £243,000. The average or mid-range amount of ground rent is £50 per annum. The lease ceases on 21st October 2081

    With 56 years left to run the likely cost is going to span between £25,700 and £29,600 as well as legals.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Sandbanks