Guaranteed fixed fees for Leasehold Conveyancing in Woolacombe

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Woolacombe leasehold conveyancing: Q and A’s

I today plan to offer on a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Woolacombe. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

Most houses in Woolacombe are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Woolacombe so you should seriously consider shopping around for a Woolacombe conveyancing practitioner and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your solicitor should advise you fully on all the issues.

My wife and I purchased a leasehold flat in Woolacombe. Conveyancing and Leeds Building Society mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Woolacombe who acted for me is not around.What should I do?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Woolacombe conveyancing solicitor to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Can you offer any advice when it comes to choosing a Woolacombe conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Woolacombe conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Woolacombe conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • How many lease extensions have they completed in Woolacombe in the last 12 months?
  • Can they put you in touch with client in Woolacombe who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Woolacombe with the purpose of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Woolacombe can be bypassed where you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers conveyancers.
    • Many freeholders or Management Companies in Woolacombe levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Woolacombe.
  • If you have had conflict with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as historic rather than ongoing.
  • If you hold a share in a the Management Company, you should make sure that you hold the original share certificate. Obtaining a new share certificate can be a time consuming formality and slows down many a Woolacombe conveyancing deal. Where a reissued share certificate is required, do contact 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 by asking your solicitors. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. In the circumstances it is important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £175000 maisonette in Woolacombe in just under a week. The management company has quoted £348 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Woolacombe?

    Woolacombe conveyancing on leasehold maisonettes often involves the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions most will be willing to assist. They are at liberty charge a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, without which the invoice is technically not due. Reality however dictates that one has little choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.

    I invested in buying a 1 bedroom flat in Woolacombe, conveyancing formalities finalised 6 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Woolacombe with over 90 years remaining are worth £253,000. The ground rent is £65 invoiced every year. The lease ceases on 21st October 2087

    With only 63 years remaining on your lease we estimate the price of your lease extension to be between £18,100 and £20,800 as well as legals.

    The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Woolacombe