Having had my offer accepted I require leasehold conveyancing in Bournemouth. Before diving in I want to be sure as to the unexpired term of the lease.

If the lease is recorded at the land registry - and almost all are in Bournemouth - then the leasehold title will always include the basic details 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 am tempted by the attractive purchase price for a two apartments in Bournemouth both have about fifty years left on the lease term. Do I need to be concerned?

There are plenty of short leases in Bournemouth. The lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the value of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this field

I am a negotiator for a long established estate agency in Bournemouth where we have witnessed a few flat sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Bournemouth conveyancing firms. Can you confirm whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?

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 can avoid having 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 disposal of the property.

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 buyer.

All being well we will complete the sale of our £350000 apartment in Bournemouth on Thursday in a week. The landlords agents has quoted £372 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Bournemouth?

Bournemouth conveyancing on leasehold apartments more often than not requires the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be content to do so. They may levy a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some situations it exceeds £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, without which the invoice is technically not due. In reality you have little option but to pay whatever is demanded should you wish to complete the sale of your home.

What makes a Bournemouth lease problematic?

Leasehold conveyancing in Bournemouth is not unique. All leases are unique and legal mistakes in the legal wording can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Barnsley Building Society, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.

Leasehold Conveyancing in Bournemouth - Sample of Questions you should consider Prior to buying

What is the name of the managing agents? Is anyone aware of any major works anticipated that could increase the service costs? On the whole the cost for major works tend not to be included within maintenance charges, albeit that a few managing agents in Bournemouth require leaseholders to contribute towards a sinking fund and this is used to offset against major works.

Other Topics

Lease Extensions in Bournemouth