Experts for Leasehold Conveyancing in Studley

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Leasehold conveyancing in Studley is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Studley and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Recently asked questions relating to Studley leasehold conveyancing

I want to rent out my leasehold apartment in Studley. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

A small minority of properties in Studley do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I am hoping to exchange soon on a studio apartment in Studley. Conveyancing lawyers assured me that they will have a report out to me on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Studley should include some of the following:

  • The physical extent of the premises. This will be the flat itself but might incorporate a roof space or cellar if appropriate.
  • Defining your legal entitlements in respect of common areas in the block.E.G., does the lease provide for a right of way over an accessway or staircase?
  • Does the lease prohibit wood flooring?
  • Are you allowed to have a pet in the flat?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • You should have a good understanding of the insurance provisions
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required For a comprehensive list of information to be included in your report on your leasehold property in Studley please enquire of your solicitor in advance of your conveyancing in Studley

    • I am employed by a reputable estate agency in Studley where we see a few flat sales put at risk due to short leases. I have been given conflicting advice from local Studley conveyancing solicitors. Could you clarify whether the seller of a flat can instigate the lease extension process for the buyer?

    Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

    An alternative approach is to extend the lease informally by agreement with the landlord 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 choosing a Studley conveyancing practice to carry out our lease extension conveyancing?

    When appointing a property lawyer for your lease extension (regardless if they are a Studley conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Studley 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 experienced is the firm with lease extension legislation?
  • If the firm is not ALEP accredited then why not?

    • Can you provide any advice for leasehold conveyancing in Studley from the perspective of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Studley can be bypassed where you instruct lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ representatives.
    • Many landlords or managing agents in Studley charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for 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 frequent cause of delay in leasehold conveyancing in Studley.
  • If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Studley state that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord consenting to such works. Should you fail to have the paperwork in place you should not contact the landlord without checking with your conveyancer before hand.
  • Some Studley leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are 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 purchasers or their solicitors.
  • If you hold a share in a the freehold, you should make sure that you hold the original share document. Organising a duplicate share certificate can be a lengthy formality and delays many a Studley conveyancing transaction. If a duplicate share certificate is needed, do contact the company officers or managing agents (if applicable) for this sooner rather than later.

    • Leasehold Conveyancing in Studley - Sample of Questions you should consider Prior to buying

      Is there a share of the freehold? Make sure you enquire if there is anything that is prohibited in the lease. For example it is very common in Studley leases that pets are not permitted in in a block in Studley. If you love the flatin Studley yet your dog is not allowed to move with you then you will be faced hard decision. Best to be warned whether a new roof is being installed or some other significant cost is due shortly that will be shared between the leasehold owners and will materially impact the level of the service costs or result in a one time invoice.

    Other Topics

    Lease Extensions in Studley