I am on look out for some leasehold conveyancing in Billingham. Before I set the wheels in motion I would like to find out the remaining lease term.

Assuming the lease is registered - and most are in Billingham - 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 am hoping to complete next month on a garden flat in Billingham. Conveyancing lawyers assured me that they are sending me a report next week. What should I be looking out for?

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

• The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years

You must be told what counts as a Nuisance in the lease

Ground rent - how much and when you need to pay, and also know whether this will change in the future

An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has

Whether your lease has a provision for a reserve fund?

Changes to the flat (alterations and additions)

The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide. For details of the information to be contained in your report on your leasehold property in Billingham please enquire of your conveyancer in advance of your conveyancing in Billingham

Can you offer any advice when it comes to finding a Billingham conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Billingham conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Billingham conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

• How many lease extensions have they completed in Billingham in the last 12 months?

What are the charges for lease extension work?

Can you provide any top tips for leasehold conveyancing in Billingham with the purpose of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Billingham can be bypassed where you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information which will be required by the purchasers’ conveyancers.
• The majority freeholders or managing agents in Billingham charge for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Billingham.

A minority of Billingham leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.

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 concerned about purchasing a flat 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 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 buyers, but it is clearly preferable to reveal the dispute as over rather than ongoing.

If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Obtaining a re-issued share certificate can be a lengthy formality and delays many a Billingham conveyancing deal. If a reissued share certificate is necessary, do contact the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.

We expect to complete the disposal of our £225000 maisonette in Billingham in just under a week. The landlords agents has quoted £336 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Billingham?

For the majority of leasehold sales in Billingham conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing pre-exchange enquiries
• Where consent is required before sale in Billingham
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Billingham leasehold property is £350. For Billingham conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

Leasehold Conveyancing in Billingham - Examples of Questions you should ask before buying

How much is the ground rent and service charge? Generally speaking the outlay for major works tend not to be included within maintenance charges, although a few managing agents in Billingham obliged leasehold owners to pay into a reserve fund created for the specific purpose of building a fund for major works. Are any of leasehold owners in dispute over their service charge payments?

Other Topics

Lease Extensions in Billingham