Fixed-fee leasehold conveyancing in Stow on the Wold:

Require a conveyancing quote from a solicitor for leasehold conveyancing in Stow on the Wold on your lender’s panel? Use our search tool to find leading local Stow on the Wold conveyancing practitioners or nationwide solicitors on your lender’s panel .

Top Five Questions relating to Stow on the Wold leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Stow on the Wold. 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 most are in Stow on the Wold - then the leasehold title will always include the basic details 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.

Estate agents have just been given the go-ahead to market my basement flat in Stow on the Wold.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge invoice – what should I do?

It best that you 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Stow on the Wold. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Stow on the Wold ?

Most houses in Stow on the Wold are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Stow on the Wold in which case you should be shopping around for a Stow on the Wold conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your lawyer should appraise you on the various issues.

Can you provide any advice for leasehold conveyancing in Stow on the Wold from the point of view of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Stow on the Wold can be reduced if you appoint lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information which will be required by the buyers lawyers.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Stow on the Wold state that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord consenting to such alterations. Should you dont have the approvals to hand do not communicate with the landlord without contacting your conveyancer in advance.
  • A minority of Stow on the Wold leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents 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 financially capable of paying 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and discharge 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 prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than ongoing.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 80 years. In the circumstances it is essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

  • We expect to complete the disposal of our £250000 maisonette in Stow on the Wold next Tuesday . The freeholder has quoted £372 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Stow on the Wold?

    Stow on the Wold conveyancing on leasehold apartments normally necessitates the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is not legally bound to answer such questions the majority will be content to assist. They may levy a reasonable charge for responding to enquiries 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 above £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, without which the charge is not strictly payable. In reality one has little choice but to pay whatever is demanded should you wish to sell the property.

    I own a studio flat in Stow on the Wold, conveyancing having been completed in 2009. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Stow on the Wold with an extended lease are worth £205,000. The average or mid-range amount of ground rent is £55 yearly. The lease terminates on 21st October 2081

    With only 57 years remaining on your lease we estimate the premium for your lease extension to be between £21,900 and £25,200 as well as plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Stow on the Wold