Common questions relating to Horfield leasehold conveyancing
I am in need of some leasehold conveyancing in Horfield. Before I get started I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and almost all are in Horfield - 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 would like to sublet my leasehold flat in Horfield. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Some leases for properties in Horfield do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience dictates 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 ground floor flat in Horfield.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service charge demand – what should I do?
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 management companies will not acknowledge the buyer unless 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.
What are your top tips when it comes to choosing a Horfield conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Horfield conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Horfield conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- If the firm is not ALEP accredited then why not?
- What are the costs for lease extension work?
In relation to leasehold conveyancing in Horfield what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Horfield. Most leases are unique and legal mistakes in the legal wording can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Skipton Building Society, and Barclays Direct all have express 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, obliging the purchaser to withdraw.
I am the registered owner of a 1st floor flat in Horfield, conveyancing was carried out in 1999. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Horfield with a long lease are worth £241,000. The ground rent is £55 per annum. The lease comes to an end on 21st October 2096
With just 70 years remaining on your lease the likely cost is going to range between £12,400 and £14,200 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.