Fixed-fee leasehold conveyancing in Victoria Dock:

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

Victoria Dock leasehold conveyancing: Q and A’s

I am in need of some leasehold conveyancing in Victoria Dock. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Victoria Dock - 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 hoping to exchange soon on a leasehold property in Victoria Dock. Conveyancing solicitors assured me that they are sending me a report on Monday. What should I be looking out for?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The total extent of the property. This will be the flat itself but might include a loft or basement if appropriate.
  • Will you be prohibited or prevented from having pets in the property?
  • Whether the lease restricts you from renting out the property, or working from home
  • Whether your lease has a provision for a sinking fund?
  • Changes to the flat (alterations and additions)
  • What you can do if a neighbour breach a clause of their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Victoria Dock please ask your solicitor in ahead of your conveyancing in Victoria Dock

  • What are your top tips when it comes to choosing a Victoria Dock conveyancing practice to deal with our lease extension?

    When appointing a solicitor for lease extension works (regardless if they are a Victoria Dock conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Victoria Dock conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

    • Can they put you in touch with client in Victoria Dock who can give a testimonial?
  • What are the charges for lease extension conveyancing?

  • Do you have any top tips for leasehold conveyancing in Victoria Dock from the perspective of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Victoria Dock can be avoided where you instruct lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the buyers lawyers.
    • A minority of Victoria Dock leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any 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 lawyers.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be concerned about purchasing a flat where a dispute is unresolved. You may need to swallow your pride and discharge 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 will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unsettled.
  • If you are supposed to have a share in the Management Company, you should make sure that you hold the original share certificate. Obtaining a new share certificate can be a time consuming process and frustrates many a Victoria Dock home move. If a duplicate share is necessary, do contact the company director and secretary or managing agents (where relevant) for this as soon as possible.
  • 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 buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 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.

  • Completion in due on the sale of our £375000 apartment in Victoria Dock next week. The landlords agents has quoted £300 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Victoria Dock?

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

    • Completing pre-contract enquiries
    • Where consent is required before sale in Victoria Dock
    • 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 Victoria Dock leasehold property is £350. For Victoria Dock 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 required to provide answers.

    I inherited a 1st floor flat in Victoria Dock, conveyancing formalities finalised 2005. How much will my lease extension cost? Similar flats in Victoria Dock with an extended lease are worth £254,000. The average or mid-range amount of ground rent is £65 yearly. The lease expires on 21st October 2100

    With 79 years unexpired we estimate the price of your lease extension to be between £10,500 and £12,000 plus legals.

    The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Victoria Dock