Fixed-fee leasehold conveyancing in Shipley:

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When it comes to leasehold conveyancing in Shipley, you will need to chose a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Santander, RBS or Bradford & Bingley make sure you choose a lawyer on their panel. Find a Shipley conveyancing lawyer with our search tool

Frequently asked questions relating to Shipley leasehold conveyancing

I am hoping to complete next month on a basement flat in Shipley. Conveyancing solicitors inform me that they report fully on Monday. What should I be looking out for?

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

  • Will you be prohibited or prevented from having pets in the property?
  • Does the lease prevent you from renting out the flat, or working from home
  • 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
  • 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
  • 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 Shipley please enquire of your conveyancer in advance of your conveyancing in Shipley

    • Estate agents have just been given the go-ahead to market my basement flat in Shipley.Conveyancing has not commenced but I have just had a yearly maintenance charge invoice – what should I do?

    It best that you clear the service charge 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 tempted by the attractive purchase price for a two maisonettes in Shipley both have approximately fifty years left on the lease term. should I be concerned?

    There are plenty of short leases in Shipley. The lease is a right to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease reduces and it becomes more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this field

    I work for a busy estate agency in Shipley where we see a number of flat sales jeopardised as a result of short leases. I have received inconsistent advice from local Shipley conveyancing firms. Can you confirm whether the vendor of a flat can instigate 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have 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 before, or at the same time as completion of the disposal of the property.

    An alternative approach is to extend the lease informally by agreement with the landlord 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 purchaser.

    All being well we will complete the sale of our £425000 garden flat in Shipley next Tuesday . The managing agents has quoted £336 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Shipley?

    Shipley conveyancing on leasehold flats usually requires the buyer’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries most will be willing to do so. They may levy a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The administration charge levied by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, otherwise the invoice is technically not due. In reality one has little choice but to pay whatever is demanded should you wish to sell the property.

    I bought a studio flat in Shipley, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Equivalent properties in Shipley with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £60 per annum. The lease ceases on 21st October 2080

    With only 56 years unexpired we estimate the premium for your lease extension to range between £27,600 and £31,800 as well as professional fees.

    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 tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Shipley