Looking forward to complete next month on a ground floor flat in Basildon. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?

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

• Defining your legal entitlements in relation to common areas in the building.For example, does the lease grant a right of way over a path or hallways?

I am a negotiator for a busy estate agency in Basildon where we have experienced a few flat sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Basildon conveyancing solicitors. Please can you clarify whether the vendor of a flat can commence the lease extension process 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 kick-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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed 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 buyer.

What advice can you give us when it comes to appointing a Basildon conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Basildon conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Basildon conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

• How familiar is the firm with lease extension legislation?

If all goes to plan we aim to complete the sale of our £450000 apartment in Basildon next week. The freeholder has quoted £408 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Basildon?

Basildon conveyancing on leasehold maisonettes more often than not involves the purchaser’s solicitor submitting questions for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries the majority will be willing to do so. They may levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge required by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, without which the invoice is technically not due. In reality one has no choice but to pay whatever is demanded if you want to exchange contracts with the buyer.

What makes a Basildon lease defective?

There is nothing unique about leasehold conveyancing in Basildon. Most leases are individual and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the premises
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Virgin Money, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.

I invested in buying a split level flat in Basildon, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Equivalent properties in Basildon with a long lease are worth £245,000. The ground rent is £50 yearly. The lease ceases on 21st October 2094

With only 71 years remaining on your lease the likely cost is going to range between £12,400 and £14,200 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.

Other Topics

Lease Extensions in Basildon