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

If the lease is registered - and 99.9% are in Bradley Stoke - 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 recently realised that I have Fifty years unexpired on my lease in Bradley Stoke. I now want to get lease extension but my landlord is missing. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to locate the freeholder. For most situations an enquiry agent should be useful to try and locate and to produce an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on devolving into the landlord’s absence and the application to the County Court covering Bradley Stoke.

I have just started marketing my garden apartment in Bradley Stoke.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should 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. This will smooth the conveyancing process.

I am tempted by the attractive purchase price for a couple of apartments in Bradley Stoke which have in the region of forty five years unexpired on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold flat in Bradley Stoke is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the premises. The majority of purchasers and lenders, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Bradley Stoke conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £350000 garden flat in Bradley Stoke next Monday . The management company has quoted £372 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Bradley Stoke?

Bradley Stoke conveyancing on leasehold maisonettes more often than not requires the purchaser’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to respond to such questions the majority will be content to assist. They are at liberty charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some cases it exceeds £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, without which the charge is not strictly payable. Reality however dictates that one has no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.

Leasehold Conveyancing in Bradley Stoke - A selection of Queries before buying

Are there any major works in the near future that will likely add a premium to the maintenance costs? Generally speaking the cost for major works tend not to be wrapped into the service charges, although a few managing agents in Bradley Stoke require leaseholders to pay into a reserve fund and this is used to offset against larger works. The prefered form of lease arrangement is a share of the freehold. In this scenario the tenants have control and although a managing agent is often employed if the building is bigger than a house conversion, the managing agent is directed by the tenants.

Other Topics

Lease Extensions in Bradley Stoke