Leasehold Conveyancing in Whimple - Get a Quote from the leasehold experts approved by your lender

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

Recently asked questions relating to Whimple leasehold conveyancing

I own a leasehold house in Whimple. Conveyancing and Coventry Building Society 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 demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Whimple who acted for me is not around.What should I do?

The first thing you should do is contact the Land Registry to be sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Whimple conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that in any event, 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 attracted to a two apartments in Whimple which have about fifty years left on the leases. Will this present a problem?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this area

Can you offer any advice when it comes to finding a Whimple conveyancing practice to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Whimple conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Whimple conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

  • How familiar is the practice with lease extension legislation?
  • Can they put you in touch with client in Whimple who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Whimple with the aim of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Whimple can be avoided if you appoint lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the purchasers’ representatives.
    • Many freeholders or Management Companies in Whimple charge for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Whimple.
  • A minority of Whimple 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 financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 buyers or their lawyers.
  • If you are supposed to have a share in the Management Company, you should ensure that you hold the original share certificate. Obtaining a new share certificate is often a lengthy formality and slows down many a Whimple home move. Where a reissued share is necessary, you should approach the company officers or managing agents (where relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 75 years. It is therefore important 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 property on the market for sale.

    • If all goes to plan we aim to complete the disposal of our £500000 maisonette in Whimple in nine days. The landlords agents has quoted £372 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Whimple?

    Whimple conveyancing on leasehold flats often necessitates the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to do so. They are entitled levy a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some transactions it is above £800. The management information fee levied by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, otherwise the invoice is technically not due. In reality you have no choice but to pay whatever is demanded if you want to sell the property.

    I purchased a studio flat in Whimple, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Whimple with a long lease are worth £239,000. The ground rent is £60 levied per year. The lease ceases on 21st October 2102

    With 78 years remaining on your lease the likely cost is going to range between £11,400 and £13,200 as well as costs.

    The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Whimple