Leasehold Conveyancing in Westbury On Trym - Get a Quote from the leasehold experts approved by your lender

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Recently asked questions relating to Westbury On Trym leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Westbury On Trym. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and almost all are in Westbury On Trym - 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 basement flat in Westbury On Trym. Conveyancing solicitors assured me that they will have a report out to me within the next couple of days. What should I be looking out for?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Does the lease prohibit wood flooring?
  • Are pets allowed in the flat?
  • Whether the lease restricts you from renting out the flat, or having a home office for business
  • Whether your lease has a provision for a reserve fund?
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Westbury On Trym please ask your solicitor in advance of your conveyancing in Westbury On Trym

    • I have just started marketing my 2 bed apartment in Westbury On Trym.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

    Your conveyancing lawyer is likely to suggest that you should discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

    What advice can you give us when it comes to finding a Westbury On Trym conveyancing practice to deal with our lease extension?

    When appointing a solicitor for your lease extension (regardless if they are a Westbury On Trym conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Westbury On Trym conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

    • How many lease extensions have they carried out in Westbury On Trym in the last year?
  • Can they put you in touch with client in Westbury On Trym who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Westbury On Trym from the point of view of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Westbury On Trym can be bypassed where you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold information needed by the buyers representatives.
    • The majority freeholders or Management Companies in Westbury On Trym levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Westbury On Trym.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Westbury On Trym leases often stipulate that internal structural changes or laying down wooden flooring require a licence issued by the Landlord approving such changes. Where you dont have the paperwork in place you should not communicate with the landlord without contacting your lawyer in advance.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. 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 clearly preferable to reveal the dispute as historic as opposed to ongoing.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check via your lawyers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is below 80 years. It is therefore essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I inherited a leasehold flat in Westbury On Trym, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Corresponding properties in Westbury On Trym with a long lease are worth £245,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease ceases on 21st October 2084

    With 64 years unexpired we estimate the premium for your lease extension to range between £15,200 and £17,600 plus plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.

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    Lease Extensions in Westbury On Trym