Guaranteed fixed fees for Leasehold Conveyancing in Winton

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Common questions relating to Winton leasehold conveyancing

I am on look out for some leasehold conveyancing in Winton. Before diving in I require certainty as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Winton - 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 would like to sublet my leasehold flat in Winton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Some leases for properties in Winton do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I've recently bought a leasehold flat in Winton. Do I have any liability for service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What advice can you give us when it comes to appointing a Winton conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Winton conveyancing practice) 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 Winton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

  • Can they put you in touch with client in Winton who can give a testimonial?
  • What are the legal fees for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in Winton from the point of view of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Winton can be reduced if you instruct lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ solicitors.
    • If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example installed wooden flooring? Winton leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord acquiescing to such changes. If you dont have the approvals to hand do not contact the landlord without contacting your solicitor before hand.
  • If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and discharge 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 will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as over rather than unresolved.
  • If you are supposed to have a share in the freehold, you should make sure that you are holding the original share document. Arranging a new share certificate is often a time consuming process and delays many a Winton conveyancing transaction. Where a reissued share is necessary, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but it would be wise to double-check by asking your conveyancers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 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 premises on the market for sale.

    • I invested in buying a studio flat in Winton, conveyancing formalities finalised in 2008. Can you work out an approximate cost of a lease extension? Corresponding flats in Winton with a long lease are worth £256,000. The ground rent is £50 levied per year. The lease finishes on 21st October 2087

    With just 61 years remaining on your lease we estimate the premium for your lease extension to range between £18,100 and £20,800 plus costs.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.

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    Lease Extensions in Winton