Fixed-fee leasehold conveyancing in Swadlincote:

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Swadlincote leasehold conveyancing Example Support Desk Enquiries

Jane (my partner) and I may need to let out our Swadlincote 1st floor flat for a while due to a new job. We used a Swadlincote conveyancing practice in 2001 but they have closed and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?

Your lease governs relations between the landlord and you the flat owner; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Swadlincote do not contain subletting altogether – such a clause would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

I own a leasehold flat in Swadlincote. Conveyancing and Barclays Direct mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Swadlincote who previously acted has long since retired.What should I do?

First contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Swadlincote conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am a negotiator for a busy estate agent office in Swadlincote where we see a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Swadlincote conveyancing firms. Can you clarify whether the owner of a flat can initiate 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

Alternatively, it may be possible 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 are your top tips when it comes to choosing a Swadlincote conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Swadlincote conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Swadlincote conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

  • If they are not ALEP accredited then why not?
  • Can they put you in touch with client in Swadlincote who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Swadlincote from the point of view of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Swadlincote can be bypassed where you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information which will be required by the buyers conveyancers.
    • Many landlords or managing agents in Swadlincote levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Swadlincote.
  • If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you installed wooden flooring? Swadlincote leases often stipulate that internal structural alterations or installing wooden flooring require a licence issued by the Landlord consenting to such alterations. Where you dont have the paperwork in place do not contact the landlord without checking with your conveyancer in the first instance.
  • If there is a history of any disputes with your freeholder 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 warry about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet 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 ahead of 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 better to reveal the dispute as historic as opposed to ongoing.
  • If you hold a share in a the Management Company, you should ensure that you have the original share document. Organising a replacement share certificate is often a time consuming process and slows down many a Swadlincote conveyancing transaction. Where a reissued share certificate is necessary, do contact the company director and secretary or managing agents (where applicable) for this sooner rather than later.

    • I am the registered owner of a 1 bedroom flat in Swadlincote, conveyancing was carried out in 2001. Can you work out an approximate cost of a lease extension? Corresponding flats in Swadlincote with over 90 years remaining are worth £176,000. The ground rent is £60 per annum. The lease ceases on 21st October 2083

    You have 61 years remaining on your lease we estimate the premium for your lease extension to be between £17,100 and £19,800 as well as legals.

    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 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 taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Swadlincote