Fixed-fee leasehold conveyancing in Greenfield:

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Sample questions relating to Greenfield leasehold conveyancing

I am intending to rent out my leasehold flat in Greenfield. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Even though your last Greenfield conveyancing lawyer is not available you can check your lease to check if it allows you to sublet the premises. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you must seek consent from your landlord or some other party before subletting. This means that you cannot sublet in the absence of first obtaining consent. The 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 if they are willing to waive this restriction.

I’m about to sell my 2 bed apartment in Greenfield.Conveyancing has not commenced but I have just received a quarterly service charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am looking at a two maisonettes in Greenfield both have approximately fifty years remaining on the leases. Will this present a problem?

There are plenty of short leases in Greenfield. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the value of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this field

Can you provide any top tips for leasehold conveyancing in Greenfield from the perspective of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Greenfield can be avoided if you appoint lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
  • The majority landlords or Management Companies in Greenfield charge for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Greenfield.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Greenfield state that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord approving such alterations. Should you dont have the consents to hand you should not contact the landlord without checking with your lawyer in the first instance.
  • A minority of Greenfield leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly 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.
  • You believe that you know the number of years left on your lease but it would be wise to verify this via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 80 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 premises on the market for sale.

    • In relation to leasehold conveyancing in Greenfield what are the most frequent lease problems?

    There is nothing unique about leasehold conveyancing in Greenfield. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:

    • A provision to repair 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

    A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , The Royal Bank of Scotland, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.

    I bought a 1 bedroom flat in Greenfield, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Greenfield with over 90 years remaining are worth £238,000. The ground rent is £45 yearly. The lease expires on 21st October 2079

    You have 55 years remaining on your lease we estimate the premium for your lease extension to range between £31,400 and £36,200 as well as costs.

    The suggested premium range above 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 this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Greenfield