Fixed-fee leasehold conveyancing in Woodborough:

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While any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Woodborough, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Recently asked questions relating to Woodborough leasehold conveyancing

Looking forward to sign contracts shortly on a garden flat in Woodborough. Conveyancing lawyers have said that they report fully on Monday. Are there areas in the report that I should be focusing on?

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

  • How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
  • Does the lease prevent you from renting out the flat, or having a home office for business
  • You must be told what constitutes a Nuisance in the lease
  • 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
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What you can do if a neighbour breach a clause of their lease?
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Woodborough please ask your lawyer in advance of your conveyancing in Woodborough

    • I today plan to offer on a house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Woodborough. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Woodborough ?

    Most houses in Woodborough are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Woodborough in which case you should be shopping around for a Woodborough conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your solicitor should appraise you on the various issues.

    I am employed by a busy estate agency in Woodborough where we see a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Woodborough conveyancing firms. Could you shed some light as to whether the owner of a flat can start the lease extension formalities for the buyer?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with 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.

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

    When appointing a conveyancer for lease extension works (regardless if they are a Woodborough conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Woodborough conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

    • How many lease extensions has the firm carried out in Woodborough in the last twenty four months?
  • What are the charges for lease extension conveyancing?

    • Do you have any advice for leasehold conveyancing in Woodborough from the point of view of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Woodborough can be avoided if you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation needed by the purchasers’ lawyers.
    • Many freeholders or managing agents in Woodborough charge for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Woodborough.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you installed wooden flooring? Woodborough leases often stipulate that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord approving such works. Where you dont have the approvals to hand you should not communicate with the landlord without checking with your lawyer in the first instance.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share document. Organising a duplicate share certificate can be a time consuming process and frustrates many a Woodborough home move. If a reissued share is needed, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your solicitors. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is less than 75 years. It is therefore essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I invested in buying a split level flat in Woodborough, conveyancing was carried out 10 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Woodborough with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £50 per annum. The lease ceases on 21st October 2080

    With just 54 years remaining on your lease the likely cost is going to range between £28,500 and £33,000 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 cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Woodborough