I've found a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Byker and Walker. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

The majority of houses in Byker and Walker are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Byker and Walker so you should seriously consider looking for a Byker and Walker conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer should report to you on the legal implications.

I work for a long established estate agency in Byker and Walker where we have experienced a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Byker and Walker conveyancing firms. Can you confirm whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence 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 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 at the same time as completion of the disposal of the property.

Alternatively, it may be possible 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.

What advice can you give us when it comes to appointing a Byker and Walker conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a Byker and Walker conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Byker and Walker conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• How familiar is the practice with lease extension legislation?

If the firm is not ALEP accredited then why not?

Can you provide any top tips for leasehold conveyancing in Byker and Walker from the point of view of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Byker and Walker can be bypassed where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ representatives.
• Many landlords or Management Companies in Byker and Walker charge for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Byker and Walker.

In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Byker and Walker leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. If you dont have the approvals in place you should not contact the landlord without contacting your conveyancer first.

If you have had conflict with your landlord or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be warry about purchasing a property where a dispute is unsettled. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as historic rather than ongoing.

You believe that you know the number of years left on your lease but it would be wise to verify this by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is less than 75 years. It is therefore essential at an as soon as possible 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.

All being well we will complete the sale of our £450000 apartment in Byker and Walker next week. The landlords agents has quoted £312 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Byker and Walker?

For most leasehold sales in Byker and Walker conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing pre-contract questions
• Where consent is required before sale in Byker and Walker
• 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 solicitor will have no control over the level of the charges for this information but the average costs for the information for Byker and Walker leasehold property is £350. For Byker and Walker 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 studio flat in Byker and Walker, conveyancing formalities finalised 3 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Byker and Walker with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease comes to an end on 21st October 2084

You have 59 years left to run we estimate the price of your lease extension to be between £22,800 and £26,400 plus legals.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Byker and Walker