Fixed-fee leasehold conveyancing in Tring:

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Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Tring, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in Tring

Having had my offer accepted I require leasehold conveyancing in Tring. Before diving in I want to be sure as to the unexpired term of the lease.

If the lease is registered - and most are in Tring - 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 wish to sublet my leasehold flat in Tring. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Notwithstanding that your previous Tring conveyancing solicitor is not around you can review your lease to see if it allows you to sublet the property. The rule is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek consent via your landlord or some other party prior to subletting. This means you not allowed to sublet without prior consent. Such consent is not allowed to be unreasonably turned down. If the lease prohibits you from subletting the property you will need to ask your landlord for their consent.

I work for a busy estate agency in Tring where we have witnessed a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Tring conveyancing firms. Please can you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 provide any top tips for leasehold conveyancing in Tring from the point of view of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Tring can be bypassed if you appoint lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ solicitors.
  • The majority freeholders or Management Companies in Tring charge for providing management packs for a leasehold property. You or your lawyers should find out 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 usual reason for frustration in leasehold conveyancing in Tring.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over as opposed to unsettled.
  • If you hold a share in a the Management Company, you should ensure that you have the original share certificate. Organising a re-issued share certificate can be a time consuming formality and frustrates many a Tring home move. Where a new share is required, you should approach the company officers or managing agents (if relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. In the circumstances it is important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • If all goes to plan we aim to complete the sale of our £475000 apartment in Tring next Friday . The management company has quoted £312 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Tring?

    Tring conveyancing on leasehold flats more often than not involves the buyer’s solicitor sending enquiries for the landlord to address. Although the landlord is under no legal obligation to address these enquiries most will be willing to assist. They may invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge levied by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the invoice is technically not due. Reality however dictates that you have little choice but to pay whatever is demanded if you want to exchange contracts with the buyer.

    Leasehold Conveyancing in Tring - Sample of Questions you should ask before Purchasing

      Is the freehold owned collectively by the tenants? Most Tring leasehold flats will incur a service charge for maintenance of the block levied by the management company. Should you buy the flat you will have to meet this contribution, usually in instalments accross the year. This may vary from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a rentcharge to be met yearly, ordinarily this is not a significant sum, say around £25-£75 but you should to enquire it because on occasion it can be many hundreds of pounds. Make sure you enquire if there are any onerous restrictions in the lease. For instance it is very common in Tring leases that pets are not permitted in certain buildings in Tring. If you love the apartmentin Tring however your dog can’t make the move with you then you will be presented with a hard compromise.

    Other Topics

    Lease Extensions in Tring