Having had my offer accepted I require leasehold conveyancing in Cookham. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and most are in Cookham - 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.

I am a negotiator for a busy estate agency in Cookham where we have witnessed a number of flat sales derailed due to short leases. I have been given conflicting advice from local Cookham conveyancing solicitors. Can you confirm whether the vendor of a flat can initiate 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

An alternative approach is 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.

Can you provide any top tips for leasehold conveyancing in Cookham with the purpose of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Cookham can be avoided if you instruct lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the buyers solicitors.
• The majority freeholders or managing agents in Cookham levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack 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 frustration in leasehold conveyancing in Cookham.
• A minority of Cookham leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual 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 solicitors.
• If you have had conflict with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as historic as opposed to unresolved.
• If you hold a share in a the Management Company, you should ensure that you have the original share document. Obtaining a replacement share certificate can be a lengthy process and delays many a Cookham conveyancing deal. Where a duplicate share certificate is needed, you should approach the company officers or managing agents (if applicable) for this as soon as possible.

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £ 275000 flat in Cookham in just under a week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Cookham?

Cookham conveyancing on leasehold apartments often involves the purchaser’s lawyer submitting questions for the landlord to address. Although the landlord is under no legal obligation to address such questions the majority will be willing to do so. They are at liberty levy a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some situations it is above £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, otherwise the invoice is technically not due. In reality one has little option but to pay whatever is demanded if you want to complete the sale of your home.

What makes a Cookham lease unacceptable for security purposes?

Leasehold conveyancing in Cookham is not unique. Most leases are individual and drafting errors can result in certain provisions are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Coventry Building Society, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to pull out.

Cookham Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing

Best to be warned whether changing the roof or some other significant cost is due shortly to be shared between the leaseholders and will dramatically impact the level of the maintenance fees or require a one off invoice. Are any of leasehold owners in dispute over their service charge payments?