Having had my offer accepted I require leasehold conveyancing in Downend. Before I get started I would like to find out the number of years remaining on the lease.

If the lease is registered - and 99.9% are in Downend - 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 hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Downend. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

Most houses in Downend are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Downend in which case you should be looking for a Downend conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your conveyancer will report to you on the legal implications.

I am tempted by the attractive purchase price for a two flats in Downend which have in the region of 50 years left on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Downend is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. For most purchasers and lenders, leases with under 75 years become less and less marketable. 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 a residence 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 Downend 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 advice for leasehold conveyancing in Downend from the perspective of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Downend can be reduced where you instruct lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation needed by the purchasers’ solicitors.
• The majority landlords or managing agents in Downend charge for providing management packs for a leasehold property. 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 typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Downend.
• In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Downend leases often stipulate that internal structural changes or installing wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Where you fail to have the approvals to hand do not contact the landlord without contacting your conveyancer before hand.
• A minority of Downend leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet 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 lawyers.
• You believe that you know the number of years left on your lease but it would be wise to double-check via your solicitors. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 75 years. It is therefore important 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 home on the market for sale.

What are the frequently found problems that you come across in leases for Downend properties?

There is nothing unique about leasehold conveyancing in Downend. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You will have a problem 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, Barnsley Building Society, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.

I own a basement flat in Downend, conveyancing formalities finalised in 1997. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Downend with a long lease are worth £213,000. The ground rent is £55 invoiced every year. The lease ends on 21st October 2091

With 65 years left to run we estimate the premium for your lease extension to span between £16,200 and £18,600 plus professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.