Fixed-fee leasehold conveyancing in Woolacombe:

When it comes to leasehold conveyancing in Woolacombe, you will need to chose a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Lloyds, Birmingham Midshires or Bradford & Bingley make sure you find a lawyer on their panel. Feel free to use our search tool

Common questions relating to Woolacombe leasehold conveyancing

Harry (my fiance) and I may need to sub-let our Woolacombe garden flat for a while due to taking a sabbatical. We instructed a Woolacombe conveyancing practice in 2001 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your previous Woolacombe conveyancing solicitor is no longer available you can review your lease to check if it allows you to sublet the property. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek consent via your landlord or other appropriate person in advance of subletting. This means that you cannot sublet in the absence of prior consent. Such consent must not not be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

I’m about to sell my 2 bed flat in Woolacombe.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is discharge the invoice 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 managing agents will not acknowledge the buyer until 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. This will smooth the conveyancing process.

I am a negotiator for a long established estate agent office in Woolacombe where we have witnessed a number of leasehold sales put at risk due to short leases. I have received conflicting advice from local Woolacombe conveyancing firms. Could you shed some light as to whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as 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 finding a Woolacombe conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Woolacombe conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend 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:

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

  • Do you have any advice for leasehold conveyancing in Woolacombe with the aim of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Woolacombe can be bypassed where you get in touch lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ representatives.
    • Many freeholders or managing agents in Woolacombe levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack 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 Woolacombe.
  • If you have had conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. 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 unsettled.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Obtaining a re-issued share certificate can be a lengthy process and frustrates many a Woolacombe conveyancing deal. If a reissued share certificate is required, you should approach the company officers or managing agents (where applicable) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but you should verify this by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is below 75 years. In the circumstances it is important at an early stage 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.

  • I bought a studio flat in Woolacombe, conveyancing formalities finalised 2003. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Woolacombe with an extended lease are worth £255,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ends on 21st October 2078

    With just 56 years remaining on your lease the likely cost is going to range between £24,700 and £28,600 plus professional fees.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Woolacombe