Guaranteed fixed fees for Leasehold Conveyancing in Yardley

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

Questions and Answers: Yardley leasehold conveyancing

Frank (my husband) and I may need to sub-let our Yardley 1st floor flat temporarily due to a new job. We used a Yardley conveyancing practice in 2003 but they have closed and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?

A small minority of properties in Yardley do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold 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.

Estate agents have just been given the go-ahead to market my 2 bed apartment in Yardley.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge demand – 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 hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Yardley. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Yardley ?

The majority of houses in Yardley are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Yardley in which case you should be shopping around for a Yardley conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer should appraise you on the various issues.

What are your top tips when it comes to finding a Yardley conveyancing firm to deal with our lease extension?

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

  • If the firm is not ALEP accredited then what is the reason?
  • What are the costs for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in Yardley from the point of view of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Yardley can be avoided where you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the buyers solicitors.
    • The majority freeholders or Management Companies in Yardley charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Yardley.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Yardley leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord approving such alterations. Where you fail to have the paperwork to hand do not communicate with the landlord without contacting your conveyancer 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 purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to pay 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 details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than unsettled.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to where the lease term is below 75 years. In the circumstances it is important 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 home on the market for sale.

    • I acquired a split level flat in Yardley, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Equivalent flats in Yardley with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease expires on 21st October 2103

    With only 78 years unexpired the likely cost is going to range between £10,500 and £12,000 as well as professional fees.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.

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    Lease Extensions in Yardley