Fixed-fee leasehold conveyancing in Swanland:

Leasehold conveyancing in Swanland 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 Swanland and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Frequently asked questions relating to Swanland leasehold conveyancing

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Swanland. Conveyancing advisers have are about to be instructed. Will they explain the issues?

The majority of houses in Swanland are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Swanland in which case you should be looking for a Swanland conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your lawyer will appraise you on the various issues.

I am tempted by the attractive purchase price for a couple of flats in Swanland which have in the region of forty five years remaining on the lease term. Will this present a problem?

There are plenty of short leases in Swanland. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the saleability of the lease decreases and it becomes more costly to extend the lease. This is why it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area

I am a negotiator for a long established estate agent office in Swanland where we see a few leasehold sales jeopardised as a result of short leases. I have been given conflicting advice from local Swanland conveyancing solicitors. Could you clarify whether the seller of a flat can commence 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means 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 simultaneously with 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 buyer.

Can you offer any advice when it comes to appointing a Swanland conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Swanland conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Swanland conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

  • How experienced is the practice with lease extension legislation?
  • If they are not ALEP accredited then why not?

  • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £325000 garden flat in Swanland next week. The managing agents has quoted £324 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Swanland?

    Swanland conveyancing on leasehold maisonettes normally involves administration charges invoiced by landlords agents :

    • Addressing conveyancing due diligence questions
    • Where consent is required before sale in Swanland
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Swanland leasehold property is £350. For Swanland conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

    I bought a 1 bedroom flat in Swanland, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Swanland with over 90 years remaining are worth £172,000. The ground rent is £60 per annum. The lease ceases on 21st October 2088

    With just 64 years unexpired the likely cost is going to be between £16,200 and £18,600 as well as legals.

    The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Swanland