I am in need of some leasehold conveyancing in Chesham. Before diving in I want to be sure as to the remaining lease term.

If the lease is registered - and almost all are in Chesham - 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.

My wife and I may need to rent out our Chesham ground floor flat for a while due to taking a sabbatical. We instructed a Chesham conveyancing firm in 2001 but they have since shut and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Notwithstanding that your previous Chesham conveyancing lawyer is no longer available you can check your lease to check if you are permitted to let out the property. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you are obliged to seek permission from your landlord or some other party in advance of subletting. The net result is you not allowed to sublet in the absence of prior consent. The consent should not be unreasonably turned down. If the lease does not allow you to sublet you should ask your landlord for their consent.

Looking forward to complete next month on a basement flat in Chesham. Conveyancing solicitors have said 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 Chesham should include some of the following:

• The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• The physical extent of the demise. This will be the flat itself but might incorporate a roof space or basement if appropriate.
• Defining your legal entitlements in respect of the communal areas in the block.E.G., does the lease provide for a right of way over an accessway or hallways?
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

I am tempted by the attractive purchase price for a couple of maisonettes in Chesham which have about fifty years left on the leases. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Chesham is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the marketability of the premises. For most buyers and lenders, leases with less than 75 years become less and less attractive. 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 property 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 property 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 Chesham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new 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.

Do you have any top tips for leasehold conveyancing in Chesham with the intention of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Chesham can be bypassed where you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation needed by the buyers solicitors.
• Many landlords or managing agents in Chesham charge for providing management packs for a leasehold property. You or your lawyers should enquire as to 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 common reason for frustration in leasehold conveyancing in Chesham.
• If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Chesham state that internal structural changes or installing wooden flooring calls for a licence from the Landlord acquiescing to such changes. If you dont have the paperwork in place do not communicate with the landlord without checking with your lawyer before hand.
• A minority of Chesham leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand 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 buyers or their lawyers.
• If you hold a share in a the Management Company, you should ensure that you are holding the original share document. Organising a new share certificate is often a time consuming process and delays many a Chesham conveyancing deal. Where a reissued share certificate is needed, do contact the company director and secretary or managing agents (if applicable) for this as soon as possible.

I invested in buying a 1st floor flat in Chesham, conveyancing formalities finalised 8 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Chesham with over 90 years remaining are worth £197,000. The ground rent is £45 yearly. The lease comes to an end on 21st October 2103

With 77 years remaining on your lease we estimate the premium for your lease extension to range between £10,500 and £12,000 as well as costs.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.