Leasehold Conveyancing in Wareham - Get a Quote from the leasehold experts approved by your lender

Get a Quote

When it comes to leasehold conveyancing in Wareham, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Clydesdale , Yorkshire Building Society or Nationwide be sure to choose a lawyer on their approved list. Feel free to use our search tool

Examples of recent questions relating to leasehold conveyancing in Wareham

I am hoping to complete next month on a studio apartment in Wareham. Conveyancing lawyers have said that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Wareham 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
  • Setting out your legal entitlements in respect of the communal areas in the block.By way of example, does the lease permit a right of way over a path or hallways?
  • Does the lease prohibit wood flooring?
  • Repair and maintenance of the flat
  • 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 property and do you know what it means in practice? For details of the information to be contained in your report on your leasehold property in Wareham please enquire of your lawyer in ahead of your conveyancing in Wareham

    • I am looking at a couple of flats in Wareham both have approximately forty five years unexpired on the lease term. Will this present a problem?

    There are plenty of short leases in Wareham. The lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the saleability of the lease decreases and it becomes more costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies 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 am employed by a reputable estate agency in Wareham where we have witnessed a few flat sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Wareham conveyancing solicitors. Please can you clarify whether the vendor of a flat can commence 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 commence 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 sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

    Alternatively, it may be possible 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 purchaser.

    Can you offer any advice when it comes to choosing a Wareham conveyancing practice to carry out our lease extension conveyancing?

    If you are instructing a solicitor for lease extension works (regardless if they are a Wareham conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Wareham conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

    • How experienced is the firm with lease extension legislation?
  • How many lease extensions has the firm conducted in Wareham in the last year?

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

    • A significant proportion of the frustration in leasehold conveyancing in Wareham can be reduced if you get in touch lawyers as soon as you market your property and ask them to put together the leasehold information needed by the purchasers’ lawyers.
    • The majority landlords or Management Companies in Wareham levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Wareham.
  • If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Wareham leases often stipulate that internal structural alterations or laying down wooden flooring require a licence from the Landlord consenting to such changes. Should you dont have the approvals to hand you should not communicate with the landlord without contacting your solicitor first.
  • A minority of Wareham leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet 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 solicitors.
  • You believe that you know the number of years left on your lease but it would be wise to double-check via your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the lease term is below 75 years. It is therefore essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I am the registered owner of a 1st floor flat in Wareham, conveyancing was carried out 8 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Wareham with a long lease are worth £195,000. The ground rent is £55 per annum. The lease finishes on 21st October 2090

    With just 65 years left to run we estimate the premium for your lease extension to be between £16,200 and £18,600 as well as plus your own and the landlord's "reasonable" professional fees.

    The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Wareham