Fixed-fee leasehold conveyancing in Benfleet:

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Questions and Answers: Benfleet leasehold conveyancing

I am on look out for some leasehold conveyancing in Benfleet. Before I get started I require certainty as to the unexpired term of the lease.

If the lease is registered - and 99.9% are in Benfleet - 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.

I have just appointed agents to market my 2 bed flat in Benfleet.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge invoice – Do I pay up?

The sensible thing to do is 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.

Back In 2003, I bought a leasehold flat in Benfleet. Conveyancing and Chelsea Building Society mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Benfleet who previously acted has now retired.Any advice?

The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Benfleet conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am a negotiator for a busy estate agent office in Benfleet where we have experienced a number of flat sales jeopardised as a result of short leases. I have received inconsistent advice from local Benfleet conveyancing firms. Can you confirm whether the seller 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 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 simultaneously with 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 purchaser.

What are your top tips when it comes to choosing a Benfleet conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Benfleet 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 talk with two or three firms including non Benfleet conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

  • What volume of lease extensions has the firm carried out in Benfleet in the last twenty four months?
  • What are the legal fees for lease extension conveyancing?

I acquired a studio flat in Benfleet, conveyancing was carried out 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Benfleet with an extended lease are worth £228,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease expires on 21st October 2087

With 61 years left to run we estimate the premium for your lease extension to range between £20,000 and £23,000 as well as professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.