Fixed-fee leasehold conveyancing in Walkington:

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Frequently asked questions relating to Walkington leasehold conveyancing

Helen (my wife) and I may need to sub-let our Walkington garden flat for a while due to a new job. We used a Walkington conveyancing practice in 2001 but they have since shut and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?

Even though your last Walkington conveyancing lawyer is no longer available you can review your lease to see if you are permitted to let out the premises. The accepted inference is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you must seek consent from your landlord or some other party before subletting. This means you not allowed to sublet in the absence of first obtaining permission. The consent should not be unreasonably refused ore delayed. If your lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.

I own a leasehold flat in Walkington. Conveyancing and Platform Home Loans Ltd mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Walkington who previously acted has long since retired.What should I do?

The first thing you should do is contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Walkington conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of maisonettes in Walkington which have in the region of forty five years unexpired on the lease term. should I be concerned?

There are plenty of short leases in Walkington. The lease is a right to use the property for a period of time. As a lease shortens the saleability of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena

I am a negotiator for a reputable estate agency in Walkington where we have experienced a few leasehold sales derailed due to short leases. I have received conflicting advice from local Walkington conveyancing solicitors. Could you confirm whether the seller of a flat can instigate the lease extension formalities 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 start 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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

If all goes to plan we aim to complete the disposal of our £150000 garden flat in Walkington next Thursday . The management company has quoted £348 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Walkington?

Walkington conveyancing on leasehold apartments usually results in fees being invoiced by freeholders :

  • Completing pre-exchange enquiries
  • Where consent is required before sale in Walkington
  • 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 solicitor will have no control over the level of the charges for this information but the average costs for the information for Walkington leasehold premises is £350. For Walkington 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 studio flat in Walkington, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Walkington with a long lease are worth £203,000. The average or mid-range amount of ground rent is £60 levied per year. The lease terminates on 21st October 2099

With only 75 years remaining on your lease we estimate the price of your lease extension to range between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account 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 getting professional advice.

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Lease Extensions in Walkington