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

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Questions and Answers: Thornhill leasehold conveyancing

I would like to let out my leasehold apartment in Thornhill. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

The lease dictates relations between the landlord and you the leaseholder; specifically, it will say if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Thornhill do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

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 just found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Thornhill. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Thornhill ?

Most houses in Thornhill are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Thornhill in which case you should be looking for a Thornhill conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your lawyer will report to you on the legal implications.

What are your top tips when it comes to appointing a Thornhill conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Thornhill conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Thornhill conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • How experienced is the firm with lease extension legislation?
  • How many lease extensions has the firm conducted in Thornhill in the last twenty four months?

Do you have any advice for leasehold conveyancing in Thornhill from the perspective of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Thornhill can be reduced where you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold information needed by the purchasers’ representatives.
  • The majority freeholders or Management Companies in Thornhill charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Thornhill.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Thornhill state that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord consenting to such works. If you dont have the approvals to hand you should not communicate with the landlord without contacting your solicitor in the first instance.
  • A minority of Thornhill leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 solicitors.
  • You believe that you know the number of years left on your lease but it would be wise to verify this by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is less than 80 years. In the circumstances it is important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

If all goes to plan we aim to complete the disposal of our £ 450000 maisonette in Thornhill next Monday . The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Thornhill?

Thornhill conveyancing on leasehold flats ordinarily results in fees being invoiced by managing agents :

  • Addressing pre-exchange questions
  • Where consent is required before sale in Thornhill
  • Copies of the building insurance and schedule
  • Deeds of covenant upon sale
  • Registering of the assignment of the change of lessee after a sale
Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Thornhill leasehold property is £350. For Thornhill 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 provide answers.

I am the registered owner of a split level flat in Thornhill, conveyancing was carried out 9 years ago. How much will my lease extension cost? Corresponding flats in Thornhill with a long lease are worth £239,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2105

With 79 years left to run the likely cost is going to span between £12,400 and £14,200 plus legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.