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

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

Sturminster Newton leasehold conveyancing Example Support Desk Enquiries

My husband and I may need to rent out our Sturminster Newton 1st floor flat temporarily due to taking a sabbatical. We instructed a Sturminster Newton conveyancing firm in 2004 but they have since shut and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?

Some leases for properties in Sturminster Newton 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 dictates 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 looking at a couple of apartments in Sturminster Newton both have about fifty years unexpired on the leases. should I be concerned?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the marketability of the lease decreases and it becomes more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena

Last month I purchased a leasehold house in Sturminster Newton. Am I liable to pay service charges relating to a period prior to my ownership?

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. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).

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

When appointing a solicitor for your lease extension (regardless if they are a Sturminster Newton conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Sturminster Newton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • If the firm is not ALEP accredited then why not?
  • What volume of lease extensions have they completed in Sturminster Newton in the last 12 months?

    • Do you have any top tips for leasehold conveyancing in Sturminster Newton with the intention of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Sturminster Newton can be bypassed where you appoint lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors.
    • If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Sturminster Newton state that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord consenting to such alterations. Should you fail to have the approvals to hand you should not contact the landlord without checking with your solicitor before hand.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unsettled.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Arranging a replacement share certificate is often a lengthy process and frustrates many a Sturminster Newton home move. Where a reissued share certificate is needed, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but you should verify this by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is below 80 years. It is therefore essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I bought a basement flat in Sturminster Newton, conveyancing having been completed 10 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Sturminster Newton with a long lease are worth £268,000. The ground rent is £55 yearly. The lease expires on 21st October 2101

    With just 76 years remaining on your lease the likely cost is going to range between £13,300 and £15,400 plus costs.

    The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Sturminster Newton