I am on look out for some leasehold conveyancing in Dymock. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and most are in Dymock - 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 am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Dymock. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

The majority of houses in Dymock are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Dymock in which case you should be shopping around for a Dymock conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your lawyer should report to you on the legal implications.

I am a negotiator for a busy estate agent office in Dymock where we have witnessed a few flat sales jeopardised due to short leases. I have been given inconsistent advice from local Dymock conveyancing firms. Please can you shed some light as to whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner 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. This means that the buyer can avoid having to wait 2 years to extend their lease. 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.

An alternative approach is to extend the lease informally by agreement with the landlord 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 advice for leasehold conveyancing in Dymock from the point of view of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Dymock can be avoided where you appoint lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation needed by the buyers representatives.
• In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Dymock state that internal structural changes or installing wooden flooring calls for a licence from the Landlord acquiescing to such works. Where you fail to have the approvals to hand you should not communicate with the landlord without checking with your lawyer first.
• A minority of Dymock leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are 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 the benefit of shareholding in the freehold, you should ensure that you are holding the original share certificate. Arranging a duplicate share certificate is often a time consuming formality and slows down many a Dymock home move. Where a duplicate share certificate is needed, you should approach the company officers or managing agents (if applicable) for this sooner rather than later.
• You believe that you know the number of years left on your lease but it would be wise to double-check by asking your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the lease term is under 75 years. In the circumstances it is important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

Are there common deficiencies that you witness in leases for Dymock properties?

There is nothing unique about leasehold conveyancing in Dymock. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You will encounter 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. Nationwide Building Society, Coventry Building Society, and Clydesdale 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 defective they may refuse to provide security, obliging the buyer to withdraw.

I inherited a basement flat in Dymock, conveyancing having been completed in 1996. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Dymock with over 90 years remaining are worth £182,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease expires on 21st October 2098

You have 72 years unexpired we estimate the premium for your lease extension to span between £8,600 and £9,800 as well as professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.