I am in need of some leasehold conveyancing in Chipping Sodbury. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Chipping Sodbury - 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 wish to let out my leasehold flat in Chipping Sodbury. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Some leases for properties in Chipping Sodbury do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I am looking at a couple of flats in Chipping Sodbury which have approximately fifty years left on the leases. Will this present a problem?

There is no doubt about it. A leasehold apartment in Chipping Sodbury is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. For most purchasers and lenders, leases with less than 75 years become less and less marketable. On a more positive 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 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 Chipping Sodbury 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 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.

Last month I purchased a leasehold property in Chipping Sodbury. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any top tips for leasehold conveyancing in Chipping Sodbury with the aim of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Chipping Sodbury can be avoided where you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ representatives.
• If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Chipping Sodbury state that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord consenting to such works. Where you dont have the approvals in place you should not contact the landlord without checking with your conveyancer first.
• Some Chipping Sodbury 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 obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
• If you have had conflict with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to ongoing.
• If you are supposed to have a share in the freehold, you should make sure that you hold the original share certificate. Arranging a new share certificate can be a time consuming formality and delays many a Chipping Sodbury conveyancing transaction. If a duplicate share certificate is necessary, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.

Chipping Sodbury Conveyancing for Leasehold Flats - Sample of Queries Prior to buying

How long is the Lease? Most Chipping Sodbury leasehold properties will have a service bill for the upkeep of the building levied on behalf of the landlord. If you acquire the flat you will have to pay this charge, normally quarterly throughout the year. This may vary from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. There will also be a ground rent to be met annual, this is usually not a exorbitant sum, say about £50-£100 but you should to check it because occasionally it could be many hundreds of pounds.