Guaranteed fixed fees for Leasehold Conveyancing in Talbot Green

Get a Quote

Whether you are buying or selling leasehold flat in Talbot Green, our panel of leasehold conveyancing experts will help you move with as little stress as possible. Find a Talbot Green conveyancing lawyer with our search tool

Sample questions relating to Talbot Green leasehold conveyancing

I am in need of some leasehold conveyancing in Talbot Green. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and most are in Talbot Green - 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.

I am tempted by the attractive purchase price for a two maisonettes in Talbot Green both have approximately fifty years left on the leases. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Talbot Green is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. For most buyers and banks, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Talbot Green conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I work for a reputable estate agent office in Talbot Green where we see a number of flat sales derailed as a result of short leases. I have received contradictory information from local Talbot Green conveyancing firms. Could you shed some light as to whether the owner of a flat can initiate 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser 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.

Can you offer any advice when it comes to finding a Talbot Green conveyancing firm to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Talbot Green conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Talbot Green conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

  • Can they put you in touch with client in Talbot Green who can give a testimonial?
  • What are the legal fees for lease extension conveyancing?

    • Can you provide any top tips for leasehold conveyancing in Talbot Green from the perspective of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Talbot Green can be avoided if you instruct 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 purchasers’ conveyancers.
    • If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Talbot Green state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such works. Where you dont have the consents to hand you should not contact the landlord without checking with your conveyancer first.
  • If you have had conflict with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current 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 particulars of the dispute to the buyers, but it is better to present the dispute as over rather than ongoing.
  • If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Organising a new share certificate can be a time consuming process and delays many a Talbot Green conveyancing deal. Where a reissued share is necessary, do contact the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 75 years. In the circumstances it is important 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 premises on the market for sale.

    • Talbot Green Leasehold Conveyancing - A selection of Queries Prior to buying

      What is the yearly maintenance fee and ground rent? Does the lease include onerous restrictions? If a Talbot Green lease has fewer than 80 years it will affect the marketability of the flat. It is worth checking with your bank that they are happy with the length of the lease. A short lease means that you will most likely require a lease extension sooner rather than later and it is worth finding out what this would cost. For most Talbot Greenlease extensions you would need to own the property for a couple of years before you are eligible to extend the lease.

    Other Topics

    Lease Extensions in Talbot Green