Guaranteed fixed fees for Leasehold Conveyancing in Somersham

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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Somersham, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Recently asked questions relating to Somersham leasehold conveyancing

I am on look out for some leasehold conveyancing in Somersham. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Somersham - 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.

I am intending to sublet my leasehold apartment in Somersham. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

A lease governs relations between the freeholder and you the leaseholder; specifically, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Somersham do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

I only have Fifty years unexpired on my lease in Somersham. I am keen to extend my lease but my freeholder is absent. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to find the freeholder. On the whole a specialist should be helpful to carry out a search and prepare an expert document which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the application to the County Court covering Somersham.

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

If you are instructing a conveyancer for your lease extension (regardless if they are a Somersham conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Somersham conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

  • What volume of lease extensions have they conducted in Somersham in the last year?
  • What are the charges for lease extension work?

    • Can you provide any top tips for leasehold conveyancing in Somersham from the point of view of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Somersham can be bypassed if you appoint lawyers the minute you market your property and ask them to put together the leasehold information needed by the buyers conveyancers.
    • The majority freeholders or Management Companies in Somersham levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack sought 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 frequent reason for frustration in leasehold conveyancing in Somersham.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Somersham state that internal structural alterations or laying down wooden flooring require a licence from the Landlord acquiescing to such works. If you dont have the consents to hand do not communicate with the landlord without contacting your solicitor first.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than unresolved.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check by asking your lawyers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. It is therefore important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I own a leasehold flat in Somersham, conveyancing having been completed 10 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Somersham with a long lease are worth £168,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease terminates on 21st October 2079

    With only 53 years remaining on your lease we estimate the premium for your lease extension to be between £30,400 and £35,200 plus costs.

    The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.

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    Lease Extensions in Somersham