Fixed-fee leasehold conveyancing in Launceston:

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Launceston leasehold conveyancing: Q and A’s

I am in need of some leasehold conveyancing in Launceston. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

If the lease is registered - and 99.9% are in Launceston - 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.

Jane (my partner) and I may need to let out our Launceston ground floor flat for a while due to a new job. We instructed a Launceston conveyancing firm in 2002 but they have since shut and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Launceston do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see 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.

Due to sign contracts shortly on a ground floor flat in Launceston. Conveyancing lawyers assured me that they are sending me a report within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Launceston should include some of the following:

  • You should receive a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • You should have a good understanding of the insurance provisions
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For a comprehensive list of information to be contained in your report on your leasehold property in Launceston please enquire of your lawyer in advance of your conveyancing in Launceston

    • Can you provide any advice for leasehold conveyancing in Launceston from the perspective of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Launceston can be reduced where you appoint lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information needed by the buyers representatives.
    • Many landlords or Management Companies in Launceston levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Launceston.
  • A minority of Launceston leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If you have had conflict with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and discharge 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 are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to ongoing.
  • You may think that you are aware of the number of years left on your lease but you should double-check via your solicitors. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £500000 flat in Launceston in 5 days. The landlords agents has quoted £312 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Launceston?

    Launceston conveyancing on leasehold maisonettes more often than not requires the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is not legally bound to answer these enquiries most will be willing to do so. They are entitled invoice a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, without which the charge is technically not due. In reality you have no option but to pay whatever is requested of you should you wish to complete the sale of your home.

    I acquired a studio flat in Launceston, conveyancing was carried out in 2003. 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? Equivalent flats in Launceston with a long lease are worth £230,000. The ground rent is £60 per annum. The lease terminates on 21st October 2094

    You have 69 years remaining on your lease we estimate the premium for your lease extension to range between £11,400 and £13,200 plus legals.

    The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Launceston