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Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Byker and Walker, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Byker and Walker leasehold conveyancing Example Support Desk Enquiries

Having checked my lease I have discovered that there are only 72 years remaining on my flat in Byker and Walker. I now want to get lease extension but my landlord is absent. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order 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. However, you will be required to demonstrate that you have used your best endeavours to track down the freeholder. On the whole an enquiry agent should be useful to conduct investigations and prepare a report which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court covering Byker and Walker.

I am hoping to exchange soon on a ground floor flat in Byker and Walker. Conveyancing lawyers assured me 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 Byker and Walker should include some of the following:

  • The physical extent of the premises. This will be the apartment itself but could also include a roof space or cellar if appropriate.
  • Are you allowed to have a pet in the flat?
  • Whether the lease restricts you from renting out the flat, or working from home
  • You should be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Changes to the flat (alterations and additions) For a comprehensive list of information to be contained in your report on your leasehold property in Byker and Walker please enquire of your solicitor in advance of your conveyancing in Byker and Walker

    • I am employed by a busy estate agency in Byker and Walker where we see a number of leasehold sales jeopardised due to short leases. I have received conflicting advice from local Byker and Walker conveyancing firms. Can you clarify whether the vendor of a flat can instigate 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. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. 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.

    Alternatively, it may be possible 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 Byker and Walker conveyancing firm to deal with our lease extension?

    When appointing a property lawyer for lease extension works (regardless if they are a Byker and Walker conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Byker and Walker 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 helpful:

    • How familiar is the practice with lease extension legislation?
  • Can they put you in touch with client in Byker and Walker who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Byker and Walker with the purpose of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Byker and Walker can be avoided where you appoint lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the purchasers’ conveyancers.
    • Many freeholders or managing agents in Byker and Walker charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for 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 common reason for frustration in leasehold conveyancing in Byker and Walker.
  • Some Byker and Walker leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly 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 freehold, you should make sure that you have the original share document. Obtaining a new share certificate can be a time consuming process and slows down many a Byker and Walker home move. If a duplicate share certificate is needed, you should approach the company officers or managing agents (if relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your conveyancers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 80 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I purchased a split level flat in Byker and Walker, conveyancing having been completed half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Byker and Walker with a long lease are worth £180,000. The ground rent is £50 invoiced annually. The lease runs out on 21st October 2085

    With just 60 years remaining on your lease we estimate the price of your lease extension to be between £20,900 and £24,200 plus costs.

    The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Byker and Walker