Guaranteed fixed fees for Leasehold Conveyancing in Shaftesbury

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Leasehold conveyancing in Shaftesbury 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 Shaftesbury and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Frequently asked questions relating to Shaftesbury leasehold conveyancing

Planning to exchange soon on a leasehold property in Shaftesbury. Conveyancing solicitors assured me that they will have a report out to me next week. What should I be looking out for?

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

  • You should receive a copy of the lease
  • The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • 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
  • Whether your lease has a provision for a reserve fund?
  • 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
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in Shaftesbury please enquire of your conveyancer in ahead of your conveyancing in Shaftesbury

    • I have just appointed agents to market my 2 bed apartment in Shaftesbury.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge invoice – should I leave it to the buyer to sort out?

    The sensible thing to do is pay 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 management companies 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. This will smooth the conveyancing process.

    I am attracted to a two apartments in Shaftesbury which have approximately fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

    There are plenty of short leases in Shaftesbury. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the marketability of the lease reduces and results in it becoming more costly to extend the lease. This is why it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area

    What advice can you give us when it comes to finding a Shaftesbury conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a property lawyer for lease extension works (regardless if they are a Shaftesbury conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Shaftesbury conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

    • If they are not ALEP accredited then what is the reason?
  • How many lease extensions has the firm completed in Shaftesbury in the last twenty four months?

    • Can you provide any top tips for leasehold conveyancing in Shaftesbury from the point of view of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Shaftesbury can be reduced if you appoint lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation needed by the buyers lawyers.
    • Some Shaftesbury leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (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 buyers or their lawyers.
  • If you have had any disputes with your landlord or managing agents it is essential 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 a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to ongoing.
  • If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Organising a new share certificate can be a lengthy formality and delays many a Shaftesbury home move. If a duplicate share certificate is needed, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 80 years. It is therefore essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I inherited a split level flat in Shaftesbury, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Similar flats in Shaftesbury with an extended lease are worth £241,000. The ground rent is £50 yearly. The lease terminates on 21st October 2087

    You have 63 years unexpired we estimate the price of your lease extension to span between £16,200 and £18,600 plus costs.

    The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Shaftesbury