Fixed-fee leasehold conveyancing in Chelmsley Wood:

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When it comes to leasehold conveyancing in Chelmsley Wood, you will need to appoint a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Santander, RBS or NatWest make sure you choose a lawyer on their panel. Feel free to use our search tool

Examples of recent questions relating to leasehold conveyancing in Chelmsley Wood

I am a negotiator for a busy estate agent office in Chelmsley Wood where we have experienced a few flat sales put at risk as a result of short leases. I have been given conflicting advice from local Chelmsley Wood conveyancing firms. Can you clarify whether the vendor of a flat can start the lease extension process for the buyer?

As long as the seller has been the owner 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. This means that the proposed purchaser 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 has to be done before, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 are your top tips when it comes to appointing a Chelmsley Wood conveyancing practice to deal with our lease extension?

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

  • How many lease extensions has the firm carried out in Chelmsley Wood in the last 12 months?
  • Can they put you in touch with client in Chelmsley Wood who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in Chelmsley Wood with the intention of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Chelmsley Wood can be avoided where you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information needed by the purchasers’ lawyers.
    • Many landlords or managing agents in Chelmsley Wood levy fees for supplying management packs for a leasehold homes. 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 accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Chelmsley Wood.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to 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 prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to reveal the dispute as over rather than unsettled.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share certificate. Organising a new share certificate is often a time consuming formality and delays many a Chelmsley Wood home move. Where a duplicate share is necessary, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.
  • You believe that you know the number of years left on your lease but it would be advisable double-check via your solicitors. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is below 75 years. In the circumstances it is essential 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 the disposal of our £450000 flat in Chelmsley Wood next week. The management company has quoted £300 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Chelmsley Wood?

    Chelmsley Wood conveyancing on leasehold apartments more often than not requires the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be content to do so. They are entitled invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. 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 entitlements and obligations in relation to administration fees, without which the invoice is not strictly payable. In reality one has little option but to pay whatever is requested of you should you wish to sell the property.

    What are the frequently found defects that you encounter in leases for Chelmsley Wood properties?

    There is nothing unique about leasehold conveyancing in Chelmsley Wood. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the premises
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, The Royal Bank of Scotland, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.

    I am the registered owner of a 1st floor flat in Chelmsley Wood, conveyancing having been completed in 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Chelmsley Wood with over 90 years remaining are worth £250,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease expires on 21st October 2091

    You have 66 years remaining on your lease we estimate the premium for your lease extension to range between £15,200 and £17,600 as well as costs.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Chelmsley Wood