Guaranteed fixed fees for Leasehold Conveyancing in Stoke Bishop

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

Common questions relating to Stoke Bishop leasehold conveyancing

I am intending to let out my leasehold apartment in Stoke Bishop. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Notwithstanding that your previous Stoke Bishop conveyancing lawyer is not available you can review your lease to see if it allows you to sublet the property. The accepted inference is that if the lease is non-specific, subletting is permitted. There may be a precondition that you are obliged to seek consent via your landlord or other appropriate person prior to subletting. The net result is you not allowed to sublet without first obtaining consent. Such consent is not allowed to be unreasonably turned down. If your lease prohibits you from subletting the property you should ask your landlord for their consent.

I've recently bought a leasehold house in Stoke Bishop. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I am employed by a reputable estate agent office in Stoke Bishop where we have experienced a number of leasehold sales put at risk due to short leases. I have received inconsistent advice from local Stoke Bishop conveyancing firms. Could you confirm whether the vendor of a flat can start the lease extension formalities for the buyer?

As long as the seller has owned the lease 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. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder 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.

What advice can you give us when it comes to finding a Stoke Bishop conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Stoke Bishop conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Stoke Bishop conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

  • How experienced is the practice with lease extension legislation?
  • What volume of lease extensions have they completed in Stoke Bishop in the last 12 months?

    • Can you provide any advice for leasehold conveyancing in Stoke Bishop with the intention of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Stoke Bishop can be bypassed if you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information which will be required by the purchasers’ conveyancers.
    • Many landlords or managing agents in Stoke Bishop levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Stoke Bishop.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Stoke Bishop state that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord approving such works. If you fail to have the approvals to hand do not contact the landlord without checking with your lawyer in advance.
  • If you have the benefit of shareholding in the freehold, you should make sure that you have the original share document. Arranging a new share certificate is often a lengthy formality and delays many a Stoke Bishop home move. If a duplicate share certificate is needed, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is under 80 years. In the circumstances it is important at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • I acquired a 2 bed flat in Stoke Bishop, conveyancing formalities finalised in 1999. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Stoke Bishop with over 90 years remaining are worth £231,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease runs out on 21st October 2103

    You have 78 years unexpired the likely cost is going to range between £11,400 and £13,200 as well as professional fees.

    The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Stoke Bishop