Fixed-fee leasehold conveyancing in Murton:

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Any conveyancing practice can theoretically handle your leasehold conveyancing in Murton, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Recently asked questions relating to Murton leasehold conveyancing

I am in need of some leasehold conveyancing in Murton. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and almost all are in Murton - 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.

Expecting to complete next month on a basement flat in Murton. Conveyancing solicitors have said that they are sending me a report tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Murton should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Are you allowed to have a pet in the flat?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Changes to the flat (alterations and additions)
  • 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
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Murton please enquire of your solicitor in ahead of your conveyancing in Murton

    • Estate agents have just been given the go-ahead to market my garden apartment in Murton.Conveyancing has not commenced but I have just had a yearly maintenance charge demand – Do I pay up?

    It best that you 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 managing agents 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 work for a busy estate agent office in Murton where we have witnessed a number of leasehold sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Murton conveyancing solicitors. Please can you confirm whether the owner of a flat can instigate the lease extension formalities for the buyer?

    As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence 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 prior to, or at the same time as completion of the sale.

    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 offer any advice when it comes to choosing a Murton conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a conveyancer for your lease extension (regardless if they are a Murton conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Murton 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 helpful:

    • How experienced is the practice with lease extension legislation?
  • Can they put you in touch with client in Murton who can give a testimonial?

    • I acquired a basement flat in Murton, conveyancing was carried out 4 years ago. Can you work out an approximate cost of a lease extension? Similar properties in Murton with over 90 years remaining are worth £176,000. The average or mid-range amount of ground rent is £60 per annum. The lease ceases on 21st October 2091

    With 67 years remaining on your lease we estimate the premium for your lease extension to range between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.

    The figure 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 tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Murton