I am in need of some leasehold conveyancing in Bishops Lydeard. Before I set the wheels in motion I want to be sure as to the remaining lease term.

Assuming the lease is registered - and most are in Bishops Lydeard - 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've found a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Bishops Lydeard. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Bishops Lydeard ?

The majority of houses in Bishops Lydeard are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Bishops Lydeard in which case you should be looking for a Bishops Lydeard conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer will advise you fully on all the issues.

I am tempted by the attractive purchase price for a couple of maisonettes in Bishops Lydeard both have in the region of forty five years left on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Bishops Lydeard. The lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the marketability of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena

Can you provide any top tips for leasehold conveyancing in Bishops Lydeard with the intention of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Bishops Lydeard can be bypassed if you instruct lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
• The majority freeholders or Management Companies in Bishops Lydeard charge for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Bishops Lydeard.

Some Bishops Lydeard leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet the annual 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 purchasers or their solicitors.

If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share document. Arranging a duplicate share certificate is often a lengthy formality and slows down many a Bishops Lydeard conveyancing transaction. Where a duplicate share is required, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.

You believe that you know the number of years remaining on your lease but you should double-check by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. It is therefore essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

All being well we will complete our sale of a £400000 apartment in Bishops Lydeard in just under a week. The landlords agents has quoted £396 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Bishops Lydeard?

Bishops Lydeard conveyancing on leasehold flats normally results in administration charges levied by management companies :

• Completing pre-contract enquiries
• Where consent is required before sale in Bishops Lydeard
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Bishops Lydeard leasehold premises is £350. For Bishops Lydeard conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply the information.

I bought a 2 bed flat in Bishops Lydeard, conveyancing having been completed 8 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Bishops Lydeard with over 90 years remaining are worth £220,000. The average or mid-range amount of ground rent is £45 levied per year. The lease expires on 21st October 2076

You have 51 years left to run we estimate the premium for your lease extension to be between £39,900 and £46,200 as well as costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.

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Lease Extensions in Bishops Lydeard