Fixed-fee leasehold conveyancing in Thornaby:

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Examples of recent questions relating to leasehold conveyancing in Thornaby

Jane (my partner) and I may need to let out our Thornaby 1st floor flat temporarily due to a new job. We used a Thornaby conveyancing practice in 2003 but they have closed and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?

A small minority of properties in Thornaby do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see 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 consent.

Expecting to sign contracts shortly on a leasehold property in Thornaby. Conveyancing lawyers have said that they report fully next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Thornaby should include some of the following:

  • You should be sent a copy of the lease
  • The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
  • You must be told what constitutes a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • 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
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • Responsibility for repairing the window frames For a comprehensive list of information to be included in your report on your leasehold property in Thornaby please enquire of your solicitor in advance of your conveyancing in Thornaby

  • I have just started marketing my garden flat in Thornaby.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge demand – Do I pay up?

    Your conveyancing lawyer is likely to suggest that you should pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

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

    • Much of the frustration in leasehold conveyancing in Thornaby can be avoided where you get in touch lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation needed by the purchasers’ lawyers.
    • The majority landlords or Management Companies in Thornaby charge for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Thornaby.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Thornaby state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. Should you fail to have the paperwork to hand you should not contact the landlord without contacting your lawyer in the first instance.
  • A minority of Thornaby leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 buyers or their lawyers.
  • If you hold a share in a the Management Company, you should ensure that you hold the original share document. Obtaining a new share certificate is often a time consuming process and slows down many a Thornaby conveyancing deal. If a duplicate share is necessary, you should approach the company director and secretary or managing agents (if applicable) for this sooner rather than later.

  • We expect to complete our sale of a £500000 apartment in Thornaby next week. The management company has quoted £300 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Thornaby?

    For most leasehold sales in Thornaby conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

    • Answering pre-exchange questions
    • Where consent is required before sale in Thornaby
    • 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 Thornaby leasehold property is £350. For Thornaby 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 obliged to supply answers.

    I bought a 1 bedroom flat in Thornaby, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Thornaby with an extended lease are worth £235,000. The average or mid-range amount of ground rent is £50 levied per year. The lease finishes on 21st October 2078

    With 56 years remaining on your lease we estimate the price of your lease extension to span between £23,800 and £27,400 plus costs.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Thornaby