Can you explain why leasehold purchase conveyancing in Frenchay Common costs more?

The conveyancing fees on a leasehold premises in Frenchay Common is often more expensive when contrasted to a freehold residence. This is due to the supplemental work required in communicating with the freeholder and managing agents to obtain information concerning whether the rent and maintenance charges have been paid and whether there are any major works due in the near future on repairs or maintenance of the block.

Can you help - my lawyer advises that chancel insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Frenchay Common?

The right level of chancel indemnity insurance depends on who your lender is. It would differ for example between Santander and Norwich and Peterborough Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.

My partner and I have arranged the release of further monies on our home loan from Yorkshire BS as we intend to conduct alterations to our house in Frenchay Common. Are we obliged to select a bricks and mortar Frenchay Common solicitor on the Yorkshire BS conveyancing panel to handle the legals?

Yorkshire BS don't usually instruct firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS conveyancing panel.

I have today made my last payment due on my mortgage with Principality. I assume I don't need a Frenchay Common conveyancer on the Principality panel to remove the mortgage at the Land Registry. Am I right?

If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Principality has sent the Land Registry the discharge electronically, and
3. Principality has instructed the Land Registry to do so

The estate agent has sent us the confirmation of our purchase of a new build flat in Frenchay Common. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.

Here is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Frenchay Common

If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. There must be mutual enforceability of lessee’s covenants. Please confirm the Lease plans are architect prepared. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.

Helen (my wife) and I may need to sub-let our Frenchay Common basement flat for a while due to taking a sabbatical. We used a Frenchay Common conveyancing firm in 2002 but they have closed and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?

Your lease governs the relationship between the landlord and you the leaseholder; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Frenchay Common do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

I purchased a 1st floor flat in Frenchay Common, conveyancing formalities finalised in 2009. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Frenchay Common with a long lease are worth £197,000. The ground rent is £55 invoiced every year. The lease ceases on 21st October 2081

With only 56 years left to run the likely cost is going to be between £29,500 and £34,000 as well as legals.

The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.

What is the reason for my property lawyer requiring a list of items of identification ahead of starting my conveyancing in Frenchay Common?

Frenchay Common property lawyers are required by the Law Society, SRA, HMLR and current AML legislation to record that the have checked the identity of their clients. It is also sometimes a condition of your mortgage offer. In addition they have to complete various forms, particularly those relating to stamp duty land tax and need to have information such as your full names, national insurance number and DOB.