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When it comes to leasehold conveyancing in Tibshelf, you will need to appoint a conveyancing practitioner with leasehold experience. Whether your lender is to be Lloyds, Yorkshire Building Society or Bradford & Bingley make sure you find a lawyer on their panel. Feel free to use our search tool

Top Five Questions relating to Tibshelf leasehold conveyancing

My fiance and I may need to rent out our Tibshelf ground floor flat temporarily due to a career opportunity. We used a Tibshelf conveyancing practice in 2003 but they have since shut and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?

Even though your previous Tibshelf conveyancing lawyer is no longer available you can review your lease to see if you are permitted to let out the property. The rule is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you need to seek consent via your landlord or other appropriate person before subletting. This means that you cannot sublet in the absence of first obtaining consent. The consent must not not be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

Planning to complete next month on a studio apartment in Tibshelf. Conveyancing lawyers inform me that they will have a report out to me next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Tibshelf should include some of the following:

  • How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • The physical extent of the property. This will be the flat itself but may incorporate a roof space or basement if appropriate.
  • Defining your rights in relation to common areas in the building.For example, does the lease contain a right of way over a path or staircase?
  • Will you be prohibited or prevented from having pets in the property?
  • You need to be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Whether your lease has a provision for a sinking fund? For details of the information to be contained in your report on your leasehold property in Tibshelf please enquire of your lawyer in advance of your conveyancing in Tibshelf

    • I own a leasehold house in Tibshelf. Conveyancing and Bank of Ireland mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Tibshelf who previously acted has now retired.Do I pay?

    The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Tibshelf conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

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

    If you are instructing a property lawyer for your lease extension (regardless if they are a Tibshelf conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Tibshelf conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

    • How familiar is the firm with lease extension legislation?
  • What are the charges for lease extension conveyancing?

    • Can you provide any top tips for leasehold conveyancing in Tibshelf from the point of view of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Tibshelf can be avoided if you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information which will be required by the purchasers’ solicitors.
    • The majority freeholders or managing agents in Tibshelf levy fees for providing management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information 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 reason for delay in leasehold conveyancing in Tibshelf.
  • Some Tibshelf leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as over as opposed to unsettled.
  • 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 purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is below 80 years. In the circumstances it is important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I invested in buying a garden flat in Tibshelf, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Tibshelf with over 90 years remaining are worth £241,000. The average or mid-range amount of ground rent is £55 yearly. The lease ceases on 21st October 2095

    With 71 years remaining on your lease we estimate the premium for your lease extension to range between £10,500 and £12,000 plus costs.

    The figure 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 the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.

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    Lease Extensions in Tibshelf