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

Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Somersham, your mortgage provider may not be willing 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 have recently realised that I have 62 years remaining on my flat in Somersham. I am keen to get lease extension but my landlord is absent. What should I do?

On the basis that you qualify, 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 enable the lease to be extended by the Court. You will be obliged to prove that you have used your best endeavours to track down the freeholder. On the whole an enquiry agent may be helpful to try and locate and to produce a report to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s absence and the application to the County Court covering Somersham.

I have just appointed agents to market my basement apartment in Somersham.Conveyancing has not commenced but I have just had a quarterly maintenance charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should 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 managing agents will not acknowledge the buyer unless 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.

Do you have any top tips for leasehold conveyancing in Somersham with the aim of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Somersham can be avoided where you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information needed by the purchasers’ conveyancers.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Somersham state that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord consenting to such works. Where you fail to have the paperwork to hand do not communicate with the landlord without checking with your lawyer first.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is ongoing. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. 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 details of the dispute to the buyers, but it is better to reveal the dispute as over rather than unresolved.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share certificate. Organising a duplicate share certificate is often a time consuming formality and frustrates many a Somersham home move. If a new share certificate is necessary, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but it would be wise to double-check via your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

All being well we will complete the disposal of our £ 225000 apartment in Somersham next Wednesday . The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Somersham?

Somersham conveyancing on leasehold flats more often than not necessitates the buyer’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to answer these enquiries the majority will be willing to assist. They are entitled levy a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge required by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, without which the charge is not strictly payable. In reality one has little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

What makes a Somersham lease problematic?

There is nothing unique about leasehold conveyancing in Somersham. Most leases is drafted differently and drafting errors can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

  • Repairing obligations to or maintain parts of the building
  • A duty to insure the building
  • Clauses dealing with recovering service charges for expenditure on the building or common parts.
  • Service charge per centages that don't add up correctly leaving a shortfall

You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Skipton Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to pull out.

I purchased a 2 bed flat in Somersham, conveyancing having been completed 4 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Somersham with an extended lease are worth £183,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease finishes on 21st October 2094

With only 68 years left to run the likely cost is going to range between £12,400 and £14,200 as well as legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.