Quality lawyers for Leasehold Conveyancing in Kings Norton

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When it comes to leasehold conveyancing in Kings Norton, you will need to chose a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Halifax, Yorkshire Building Society or NatWest be sure to find a lawyer on their approved list. Find a Kings Norton conveyancing lawyer with our search tool

Common questions relating to Kings Norton leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Kings Norton. Before I set the wheels in motion I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Kings Norton - then the leasehold title will always include the short particulars 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've found a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Kings Norton. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

Most houses in Kings Norton are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Kings Norton in which case you should be shopping around for a Kings Norton conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer should appraise you on the various issues.

I am looking at a couple of flats in Kings Norton both have approximately 50 years left on the lease term. should I be concerned?

There are plenty of short leases in Kings Norton. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the value of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field

I am a negotiator for a long established estate agent office in Kings Norton where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Kings Norton conveyancing firms. Could you shed some light as to whether the seller of a flat can start the lease extension formalities for the buyer?

Provided that 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. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. 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 disposal of the property.

An alternative approach is 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 buyer.

Can you provide any advice for leasehold conveyancing in Kings Norton with the intention of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Kings Norton can be avoided if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the buyers solicitors.
  • Many landlords or Management Companies in Kings Norton charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. 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 Kings Norton.
  • If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Kings Norton state that internal structural changes or addition of wooden flooring require a licence from the Landlord consenting to such changes. Should you fail to have the consents in place do not communicate with the landlord without contacting your lawyer before hand.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share certificate. Organising a re-issued share certificate is often a time consuming process and frustrates many a Kings Norton home move. If a duplicate share is required, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but it would be wise to verify this via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to where the remaining number of years is under 80 years. It is therefore important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I acquired a 2 bed flat in Kings Norton, conveyancing was carried out in 2005. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Kings Norton with over 90 years remaining are worth £168,000. The average or mid-range amount of ground rent is £55 levied per year. The lease finishes on 21st October 2103

    With only 78 years unexpired we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as professional fees.

    The figure 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 comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Kings Norton