Fixed-fee leasehold conveyancing in Spennymoor:

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

Sample questions relating to Spennymoor leasehold conveyancing

I have just started marketing my 2 bed flat in Spennymoor.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?

It best that you discharge the service charge 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. This will smooth the conveyancing process.

My wife and I purchased a leasehold house in Spennymoor. Conveyancing and TSB mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Spennymoor who acted for me is not around.Do I pay?

First make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Spennymoor conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Can you offer any advice when it comes to finding a Spennymoor conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Spennymoor conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Spennymoor conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • How familiar is the firm with lease extension legislation?
  • Can they put you in touch with client in Spennymoor who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in Spennymoor from the perspective of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Spennymoor can be reduced if you instruct lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ lawyers.
    • Many landlords or Management Companies in Spennymoor charge for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Spennymoor.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Spennymoor leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord acquiescing to such changes. Where you fail to have the consents to hand do not communicate with the landlord without checking with your conveyancer first.
  • A minority of Spennymoor leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • 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 conveyancers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 80 years. It is therefore 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 premises on the market for sale.

    • If all goes to plan we aim to complete the sale of our £450000 apartment in Spennymoor on Thursday in a week. The management company has quoted £372 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Spennymoor?

    Spennymoor conveyancing on leasehold flats normally necessitates the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to do so. They are at liberty levy a reasonable charge for answering enquiries 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 sent together with a synopsis of rights and obligations in relation to administration charges, without which the invoice is technically not due. In reality you have little choice but to pay whatever is demanded if you want to sell the property.

    I purchased a 1 bedroom flat in Spennymoor, conveyancing having been completed 10 years ago. Can you work out an approximate cost of a lease extension? Similar properties in Spennymoor with a long lease are worth £188,000. The average or mid-range amount of ground rent is £60 levied per year. The lease expires on 21st October 2082

    With only 57 years remaining on your lease the likely cost is going to be between £23,800 and £27,400 plus legals.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Spennymoor