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

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While any conveyancing practice can theoretically handle your leasehold conveyancing in Sedgefield, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Sedgefield leasehold conveyancing Example Support Desk Enquiries

I am intending to let out my leasehold apartment in Sedgefield. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Even though your previous Sedgefield conveyancing lawyer is not 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 allowed. There may be a precondition that you need to obtain permission from your landlord or some other party before subletting. The net result is that you cannot sublet without first obtaining permission. Such consent must not not be unreasonably refused ore delayed. If your lease does not allow you to sublet you should ask your landlord for their consent.

I have just started marketing my ground floor apartment in Sedgefield.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

My wife and I purchased a leasehold flat in Sedgefield. Conveyancing and Nationwide Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Sedgefield who acted for me is not around.Do I pay?

First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to instruct a Sedgefield conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I work for a busy estate agency in Sedgefield where we have witnessed a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Sedgefield conveyancing firms. Could you confirm whether the seller of a flat can initiate the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Can you provide any advice for leasehold conveyancing in Sedgefield with the purpose of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Sedgefield can be bypassed where you appoint lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ solicitors.
  • The majority freeholders or managing agents in Sedgefield levy fees 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 can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Sedgefield.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Sedgefield leases often stipulate that internal structural changes or installing wooden flooring require a licence issued by the Landlord approving such works. Should you dont have the consents to hand you should not contact the landlord without contacting your solicitor in advance.
  • A minority of Sedgefield leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should 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 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 solicitors.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share document. Arranging a new share certificate is often a lengthy process and delays many a Sedgefield home move. If a duplicate share certificate is needed, you should approach the company officers or managing agents (where applicable) for this sooner rather than later.

    • I own a 2 bed flat in Sedgefield, conveyancing formalities finalised 2007. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Sedgefield with an extended lease are worth £267,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease ceases on 21st October 2086

    With just 61 years remaining on your lease the likely cost is going to range between £22,800 and £26,400 plus plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Sedgefield